Business conditions survey shows further economic decline in November
A monthly survey of business and supply managers in nine states shows the regional economy continues to slow down.
Creighton University economist Ernie Goss compiles the survey. The overall business conditions index for November was 48. While that’s above October’s figure, it’s below 50—the indicator of economic growth.
Goss says the survey’s confidence index declined significantly in November, a sign that business and supply managers are concerned about the impact of the fiscal cliff.
“That, combined with uncertainty surrounding health care reform, lots of supply managers reported in their comments that they’re concerned about what happens to health care costs, what happens to health care coverage, beginning January first.”
Goss says he’s also not encouraged by the report’s finding that wages will stay the same over the next three to six months.
The report includes Iowa and Nebraska. It found that Iowa, North Dakota, and Oklahoma’s economies fared the best in November.