Omaha Public Radio News
1:07 am
Tue February 3, 2009

Creighton economic report forecasts a continuing recession

Omaha, NE – Creighton University's monthly business report shows the Midwest is in a recession.

Creighton Economics Professor Ernie Goss compiles the report on business conditions in nine states, including Nebraska and Iowa. Goss' report shows the overall Business Conditions Index for January was 33.5. While that's better than December's figure, Goss says that indicates a recession. The Index measures the overall health of the economy. A number higher than 50 indicates economic growth.

Goss' report also notes an increase in unemployment. He expects unemployment to continue to increase in the coming months, with Minnesota and Missouri being the hardest hit.