The Midwestern economy saw significant growth in the past month, with the tracking numbers rising to the highest level in two years, according to the latest survey by Creighton University. Economist Dr. Ernie Goss says a large part of Iowa’s economy is based on agriculture and the weather is finally being cooperative for farmers.Goss says the agricultural sector still isn’t doing as good as he’d like to see but he adds it’s certainly better than we’ve seen in several prior years. Goss says the state and regional economies are both clearly on the mend. The overall index is up dramatically being driven in part by new orders and by an increase in hiring. Goss says several factors on the national and world scale are coming into play to improve the state’s economic picture.Goss says many elements are working in concert to benefit the economy, including the low interest rates, the favorable weather, the tax cuts, and the war in Iraq being over bringing stable gasoline prices. One negative that lies ahead though is higher natural gas prices, which he says will hurt agricultural producers who use that fuel for drying grains.
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