The monthly report that keeps tabs on the Midwest economy shows declining conditions in Iowa and the eight other states included in the survey.
Creighton University economist Ernie Goss oversees the Mid-America Business Conditions index, which involves survey results that are compiled into a collection of indexes ranging from zero to 100. For the fifth consecutive month, the overall index remained above 50 – suggesting economic growth.
“The overall index (for June) declined to 50.1 from May’s 52.1,” Goss said. “So, it was still above growth neutral, but not by much.” The region’s manufacturing sector has lost jobs over the last several months, according to Goss, while the overall regional economy continues to add jobs but at a pace of roughly half that of this time last year.
Today’s report includes information about the hiring intentions of the region’s business leaders for the second half of 2016. “One in six firms expect layoffs, not good,” Goss said. “One in four firms, on the other hand, expect additions – anticipate hiring – so that’s good. The remaining 58-percent expect no change. All in all, I’d argue that’s pretty good.”
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota. The June Business Conditions Index for Iowa slipped to 50.3 from May’s 53.2.