Economy is growing in Midwest, Plains states

2014-08-01T00:00:00Z Economy is growing in Midwest, Plains statesThe Associated Press The Associated Press
August 01, 2014 12:00 am  • 

OMAHA, Neb. — The economy in nine Midwestern and Plains states should continue growing steadily in the months ahead, according to a monthly survey of business leaders released recently.

The region’s overall economic index crept up to 60.6 in June from May’s 60.5 to hit another three-year high.

Creighton University economist Ernie Goss, who oversaw the survey, said the report offers plenty of reasons to be optimistic about the economy because the job market is strong and businesses report solid new order numbers.

The confidence index for the next six months improved to 63.6 in June from 62.5 in May.

Survey organizers say any score above 50 suggests growth, while a score below that suggests decline. All the scores for the different indexes range from zero to 100.

The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.

The employment index rose to its highest level in two years when it hit 61.4 in June. That was up from May’s 60 as durable goods manufacturers continued hiring. Goss said strong job growth should continue in the region.

Inflation pressure remained elevated in June, and the survey’s prices-paid index increased slightly to 73.5 from May’s 73.1.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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