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News Brief

July 12, 2023Omaha, Neb. |  By: Jeremy Werner

Economic signs show slow, but positive growth

economy

OMAHA, Neb. - The latest economic report for 10 Midwest states, including all states in the KXCV/KRNW listening area, shows signs of slow but positive growth.

The Mid-America Business Conditions Index is based on a survey of supply managers in a nine-state region. The Index remained above the growth neutral level at 50.8 in June, though slightly down from May's 51.3.

Creighton University Economics Professor Dr. Ernie Goss highlighted the slightly guarded optimism due to slowing growth and decreasing inflation.

However, the regional hiring gauge slipped to 50, indicating slowing growth in employment. Goss explains that employers are hoarding workers due to interest rate hikes and the difficulty of rehiring.

The report also reveals state-specific data, with Iowa showing the highest overall index at 55.4, driven by farm machinery sales and a strong food production industry. Overall, economic optimism remains weak, but slightly improved.