Report says war impacting economy of Iowa and other Midwest states

The monthly report card’s out on the regional economy and Creighton professor Ernie Goss says the war’s taking a toll. The war with Iraq is having an impact on export orders, for example, which are down dramatically and hurting the overall economy. Goss says the first quarter was not good for the nine states in the midwest region he surveys, and the second quarter’s also down. He compares economists to Cubs fans, always waiting till next year — but while waiting for the next (third) quarter, Goss says he won’t expect it to be an improvement unless there’s an end to the war with Iraq. Iowa’s numbers are down, though not as dramatically as the rest of the region, and the state’s doing much better than some of its neighbors. He says you can see the signs in lagging sales at implement dealers, and the manufacturers of that farm equipment also are not doing well. The Creighton economist is even using the “R” word. He says economic indicators are pointing to an economy slowing down, and he sees potential for a recession.