The Creighton University Mid-America Business Conditions Index for August, a leading economic indicator for a nine-state region stretching from Arkansas to North Dakota, slumped for the month. The August Business Conditions Index, which ranges between 0 and 100, declined to 49.6 from July’s 50.6. The regional index, much like the national reading, is pointing to weak, and potentially negative growth through the fourth quarter of 2015. Ernie Goss, director of Creighton University’s Institute for Economic Inquiry, says that decline is a warning….
Goss says a couple of major business sectors are pulling those numbers down…
Goss says the regional employment gauge improved for August, but remains at a level pointing to slow new hiring for the overall region in the months ahead. The job gauge advanced to a weak 52.0 from July’s 50.0. The wholesale inflation index for August fell to 47.6 from July’s 57.6 and from June’s 64.9 and May’s 69.1. Goss says that should not be seen as good news…
Goss says looking ahead six months, economic optimism, as captured by the August business confidence index, plummeted to 47.7 from 52.4 in July.