Business conditions index declines in July

Aug 1, 2013

OMAHA, Neb. (AP) — A monthly survey of business leaders in nine Midwest and Plains states shows the region's economy will grow in the coming months, despite a fourth month of decline in the survey's overall index.

Creighton University economist Ernie Goss compiles the Business Conditions Survey of supply managers in nine states. July’s index was 53.5, down from 55.6 in June. Goss says the economy is growing, albeit slowly.

"What it’s telegraphing to all of us is that this economy, this regional economy, the growth is slowing but it’s still positive, and a lot of this is, of course, at least according to our survey, linked to agriculture, which is not as strong as it was last year. Of course, agriculture is a very important industry in this part of the country."

Goss says job growth slowed in July. But he expects the unemployment rate to remain low. Nebraska’s seasonally-adjusted unemployment rate in June was four percent.

The survey includes Iowa and Nebraska.