Creighton survey: Midwest economy rises
Creighton University’s Mid-America Business Conditions report for August found economic conditions in nine Midwestern states on the rise.
The survey of supply managers pushed the index to 61.1 in August, up from 57 in July, the report said. The index has been above growth-neutral, 50, for close to two years.
Iowa’s index jumped to 59.2 in August from 55.9 in July. Iowa’s durable-goods arena added 6 percent more jobs over the past 12 months, while jobs in nondurable-goods businesses grew 4.6 percent.
The regional economy continues to expand “at a very healthy pace,” said Creighton University economist Ernie Goss, who oversees the report. “However, I continue to expect expanding tariffs, trade restrictions and rising short-term interest rates from a more aggressive Federal Reserve to slow regional growth to a more modest — but still positive — pace in the months ahead.”
The six-month optimism index dropped to 60.8 in August, still a strong reading, from July’s 63.9.
An index of economic indicators that is compiled by the Iowa Department of Revenue shows that the state economy hasn’t budged since March. In July, the index registered 108.3, the same as June. “The ILII has experienced no monthly changes since March,” according to a release about the Iowa Leading Indicators Index. The monthly diffusion index remained unchanged from June with a reading of 50.