The January Mid-America Business Conditions Economic Index report came in above growth neutral at 53.2, up from 49.5 in December of 2012. Creighton University Economist Dr. Ernie Goss the economy is growing but calls the situation “anemic”.
Dr. Goss says job growth was below the growth neutral mark. That is because the manufacturing sector is also starting to slide. Dr. Goss says new export orders are well below growth neutral and that is impacting all nine states in the Mid-America Region, including Nebraska and Iowa.
Dr. Goss says consumer confidence in the economy is growing and is above growth neutral in the mid-50’s. He says that is likely due to an “overly enthusiastic” view of the housing market. Dr. Goss says we have come off the bottom of the housing market but still far from the levels we saw in 2006. He says that is something that needs to be watched carefully.