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Sept. 8, 2024Omaha, Neb. |  By: Jeremy Werner

Midwest manufacturing index shows decline

the economy

OMAHA, Neb. - Creighton University's Mid-America Manufacturing Index for August dropped to 48.7, down from 50,7 in July, indicating a decline in business conditions. A reading of 50 is considered growth neutral.

This is the fourth time this year the index has fallen below growth neutral, showing a back-and-forth pattern of growth and contraction across the nine-state region, including Missouri, Iowa, Nebraska and Kansas.

The August survey also highlighted cooling inflationary pressures, with the wholesale price gauge falling for the sixth straight month.

The employment index dropped to 45.2, showing a zero-point-three percent decline in regional manufacturing jobs over the past year.

Almost 18% of supply managers reported worker shortages, and over 35% expect a recession later this year.

Despite economic uncertainty, some states like Nebraska and North Dakota have seen manufacturing job growth, while others like Missouri and Iowa have struggled.