The overall nine state Mid-America Business Conditions Index for the month of November dipped a bit but remains at a healthy level. November came in at 57.2, down from October’s 58.8. Creighton University Economist Ernie Goss says the overall index remained above growth neutral 50 for the 12th straight month. Goss says that is a “Goldilocks economy”, some areas are hot, some are cold with that being in agriculture.
When it comes to jobs, Goss says, “The jobs number was still above growth neutral, 53.6, and that is up from 52.9 in October. That is good. When we talk about jobs, one percent growth year-over-year, that is for all the states, and that is for the region. The U.S. number is 1.4, so the region is not growing jobs like the rest of the U.S., so that is a concern. A lot of that is debt due to new agriculture.” Goss says those looking for work in the Midwest region should not have a problem in finding employment right now.
The report shows that new export orders soared for the month of November. Supply managers expect their firms to raise wages and salaries by only 2.6^ in 2018.
Approximately 42.1% of supply managers support the tax reform bill before Congress while 19.3 oppose the package. Wholesale prices cooled slightly in November to 71.4, down from October’s 75.0.
The Index for Nebraska fell to 54.8 in November from 60.1 in October. Goss says over the past 12 months, Nebraska increased manufacturing employment by 0.9%, or approximately 900 manufacturing jobs. Losses for metal producers were offset by gains in food processing.