(Omaha, Neb.)– A survey of nine midwestern and plains states that includes Iowa and Minnesota suggests that higher fuel prices are starting to slow the regional economy.
According to a report released today (Monday), the Business Conditions Index for the mid-america region dropped in April for a second straight month, to 57.7 last month from 61.4 in March.
Economist Ernie Goss says the region is beginning to see high energy prices cut into economic growth.
The survey of supply managers and executives and the report use a collection of indexes ranging from zero to 100. Organizers say any score above 50 suggests economic growth in the next three to six months, while a score below 50 suggests a contracting economy.
(Story from the Associated Press).
