Report: Midwest economic index drops again
Omaha, Neb. A monthly economic survey index for nine Midwestern and Plains has dropped again.
A survey report issued early Monday says the overall Mid-America Business Conditions Index fell in October to 51.8 from 54.3 in September. The figure was from 57.2 in August.
Creighton University economist Ernie Goss oversees the survey, and he says sharp declines in grain and crude oil prices drove down the overall index for the month. He says the index figure points to slow economic gains ahead.
The survey results from supply managers are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests economic growth, while a score below that suggests decline.
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.