Latest Report Shows Midwest Economy Still Growing, But At A Slower Pace
OMAHA, Neb. (AP)-- A monthly survey report suggests economic growth is still slowing in nine Midwest and Plains states.
The report released Wednesday says the Mid-American Business Conditions Index declined to 57.0 in July from 61.8 in June and 67.3 in May. It's still the 20th straight month that the index remained above the growth neutral 50.0.
Creighton University economist Ernie Goss says the region's manufacturing growth of 2.6 percent over the past 12 months exceeds the U.S. growth rate of 2.3 percent.
The survey results are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests growth in that factor. A score below that suggests decline.
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
(From The Associated Press).