(KFOR NEWS August 2, 2021) Since declining to a record low in April of last year, the Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, moved above growth neutral for 14 of the last 15 months.
The Business Conditions Index, which uses the identical methodology as the national ISM, ranges between 0 and 100, dipped to a still strong 73.1 from June’s 73.5. However, as in previous months, between 80% and 90% of manufacturing supply managers report that labor shortages and supply bottlenecks continue to restrain growth.
“Creighton’s monthly survey results indicate the region is adding manufacturing business activity at a very healthy pace, and that regional growth will remain strong. Absent supply bottlenecks and labor shortages, that growth would be even stronger,” said Ernie Goss, PhD, director of Creighton University’s Economic Forecasting Group and the Jack A. MacAllister Chair in Regional Economics in the Heider College of Business.
July Survey Results at a Glance:
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