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Archive for Friday, May 2, 2008

Survey shows strength of Midwest economy

May 2, 2008

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A survey of business executives in nine Midwestern and Plains states suggests their state economies are humming right along despite wholesale inflationary pressures.

A report released Thursday said the Mid-American Business Conditions Index rose in April to 55.5 from 54.3 in March.

Any score greater than 50 on the index, which ranges between 0 and 100, indicates an expanding economy over the next three to six months.

Kansas' overall index rose to 55.0, its highest level since August 2007, compared with 48.3 in March and 52.7 in February. Components of the overall index were new orders at 58.9, production at 54.5, delivery lead time at 53.2, employment at 53.1 and inventories at 51.2.

Creighton University economics professor Ernie Goss, who oversees the report, said the region is "clearly outperforming the rest of the nation."

"Very strong farm income and biofuels production continue to push the regional economy higher," Goss said. "Furthermore, the downturn in housing is having less of an impact for most of the nine-state region than for the rest of the nation."

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