The October Creighton University Mid-America Business Conditions Index remained above growth neutral for 17 of the last 18 months. The index for October came in at 65.2 compared to September’s 61.6.
Dr. Ernie Goss is the director of Creighton University’s Economic Forecasting Group and says, “The monthly survey indicates the region is adding manufacturing business activity at a positive pace, and the regional growth will remain solid but somewhat slower. Almost one-third of supply managers reported that inventory stockpiling has contributed significantly to supply chain bottlenecks.”
The business confidence for the Mid-America region is at the lowest level since March of 2020.
The regional employment index for October came in at 66.1 compared to 56.7 in September. Goss says, “The region has yet not recover all job losses from the pandemic. The latest U.S. Bureau of Labor Statistics data indicates that compared to pre-COVID-19 levels, current nonfarm employment is down by 436,000 jobs, or by 3%.”
Nebraska’s overall index climbed to 67.5 in October from 65.5 in September.
The nine states included in the Mid-America region include Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.