The Mid-American Business Conditions Index for the nine state region that includes Nebraska rises to a healthy number. Creighton University Economist Ernie Goss crunches the numbers every month and says there was another growth in October.
The overall index for the nine state areas came in at 58.8 for October, up from 58.2 in September. That is the highest reading in four months.
Goss says, “Both the national and our regional indicates the manufacturing sector is expanding at a very healthy pace and that this expansion will spill over into the broader national and regional economies in the next three to six months. For the first time in years we are not tracking constant growth in the durable goods sector.
Employment numbers for October grew to 52.9 from September’s 52.0. He says the durable, non-durable and non-manufacturing secttors are adding more jobs.
The October Business Conditions index for Nebraska rose to 60.1, up from 59.3 in September.
Goss says things to keep close tabs on include Friday’s wage figure in the Employment Report. If that moves up too much that could indicate higher interest rates to come. He is also concerned about the increasing Home Price Index that comes out the last Tuesday of every month. He says housing prices are growing too strong for wage growth.