Midwest Economic Index Jumps In January
February 1, 2012, 5:54 AM
OMAHA, NE -
A big jump in a monthly survey index suggests a more economic growth is ahead for nine Midwest and Plains states.
The Business Conditions Index rose to 55.9 in January, compared with 50.0 in December.
Creighton University economist Ernie Goss says the December report suggested the region's economy was slowing down because of debt concerns in Europe and the lukewarm U.S. economy. But he says it appears now that December's "tepid reading was due to seasonal or nonrecurring factors."
The survey uses a collection of indexes ranging from zero to 100. Goss says that any score above 50 suggests growth while a score below 50 suggests decline for that factor.
The survey of supply managers covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
© 2012 Associated Press. All rights reserved. Material may not be redistributed.