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Archive for Saturday, March 2, 2002

Survey: Midwest breaking out of recession

March 2, 2002

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— Renewed manufacturing production and modest inflationary pressures show the Midwest breaking out of the recession, an economics professor said Friday.

A survey of company officials in a nine-state region, including Kansas, showed the overall index rising sharply to 56.2 in February from January's 47.7, said Ernie Goss of Creighton University..

An index above 50 signifies growth, while a figure below 50 indicates a sluggish economy.

The production index in February increased from 48.7 in January to 62.8 in February, its highest reading since April 2000, Goss said.

The February Business Conditions index for Kansas rose for the second consecutive month to 44.3 from January's weak 41.9 and December's even weaker 35.5.

"This was the highest reading for Kansas since October 2001 and points to slightly improving economic conditions in the coming months," Goss said.

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