April’s Economic Index for the Midwestern and Plains region points to better times ahead. Creighton University Economist Ernie Goss conducts the monthly survey and says this is the highest overall reading that we have recorded since March of 2011. April’s overall index came in at 60.4 compared to 58.2 in March.
Goss says the employment gauge remains above the threshold for the fourth straight month even though it dipped slightly from March. (April at 54.2 and March at 54.4) He says, “Durable goods manufacturers, including vehicle producers, and nondurable goods producers, such as food processors, are adding jobs at a healthy pace. There are more workers employed in the nine-state region than ever.” He expects the current growth will continue.
Goss says confidence also remains strong and that trend should continue over the next six months. The report shows the cost of raw materials and supplies increased to its highest level since March of 2012. Goss says with the good news comes some bad and he expects long term interest rates to continue to advance in the months ahead.