Survey suggests economic slump looming in Midwest
Published on -11/1/2012, 9:56 AM
OMAHA, Neb. (AP) -- A monthly economic index report suggests an economic slump over the next three to six months for nine Midwest and Plains states.
The Mid-America Business Conditions index dropped to 46.5 last month from 50.4 in September.
The survey of business leaders and supply managers uses a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests growth while a score below 50 suggests decline for that factor.
The overall index figure was 49.7 in August, 48.7 in July and 57.2 in June.
Creighton University economist Ernie Goss oversees the survey, and he says "growth in the regional economy is definitely moving lower."
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.