Iowa’s economy recorded its fourth consecutive month of slowing growth in August, according to the latest survey from Creighton University. Economist Ernie Goss says the Federal Reserve Board’s repeated increases in interest rates are among the primary causes of the state’s trouble.Dr. Goss says Iowa’s economy is still growing, but extremely slowly. He says the state’s very low unemployment rate is continuing to hinder industry from expanding in Iowa. The Hawkeye State’s jobless rate has been consistently about half of the national rate for many months. He says the shortage of labor slows the growth rate in many of the states he surveys.Goss says the Federal Reserve is scheduled to meet again October 3rd, and he doesn’t expect any change in interest rates.Creighton conducts a monthly survey of purchasing managers in Iowa and eight other states — producing the leading economic indicator for the Midwest economy.
