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News Brief

July 2, 2024Omaha, Neb. |  By: Jeremy Werner

Latest Mid-America Business Conditions Index releases

economy

OMAHA, Neb. - The Creighton University Mid-America Business Conditions Index, a key economic indicator for our region, rose above the growth neutral threshold for the third time this year in June.

The index climbed to 51.3 from 48.2 in May. Despite this rise, supply managers remain pessimistic, with nearly 48% expecting an economic downturn for the rest of 2024.

Employment remains a concern, as the employment index has stayed below growth neutral for six consecutive months, inching up slightly to 44 in June from 43.7 in May.

Additionally, around 6% of supply managers have reshored all international purchases, while 42 percent have partially reshored their operations.

Inflationary pressures appear to be cooling, as the wholesale price gauge dropped to 61.4 from 70.8 in May. This trend may prompt the Federal Reserve to cut interest rates in September.