An economist who surveys business leaders in nine Midwestern states is seeing his prediction for a positive new year confirmed. Economics professor Ernie Goss says high prices for the grain harvest have helped confidence in Iowa’s economy.
While he says Iowa hasn’t enjoyed quite the rate of growth they’re seeing in neighboring Nebraska, Iowa is one of the leading producers of ethanol, and that of course is one of the positive impacts on the Iowa economy. Nonfarm industry jobs were a downward factor in the business picture according to Goss.
Pull-backs in appliance manufacturing, like the Whirlpoll company’s shutdown of the Maytag plant in Newton, is having an impact. Participants in his nine-state Midwestern survey did report good hiring in January, though Goss says inflationary pressures were cooled by slowed housing sales and the sinking price of crude oil.