Creighton University professor Ernie Goss says the economy is moving sideways. After looking over his latest survey of purchasing managers in the regional, Dr. Goss says the war in the Persian Gulf is holding down recovery from last year’s recession. He says one month’s up, one’s down, put it all together and it’s moving sideways — and while Goss says we’re seeing perhaps a one-percent growth rate, we need at least three times that much. He says the war’s hurting the airlines, for example, and that affects the rest of the economy. Goss says the war with Iraq has lots of reservists off defending the country and not producing goods and services back at home, which has a negative effect on the economy. Goss says though we’ve gotten a break recently with higher supplies of petroleum, the war is putting upward pressure on fuel prices. Assuming the war’s settled successfully, he predicts crude-oil prices back down around $25 a barrel or less, which will be a big break for drivers as well as homeowners paying heating and cooling bills.
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