Economic growth slows in May, as national unemployment rate rises

Jun 1, 2012

A monthly survey of business conditions in nine Midwest and Plains states shows economic growth slowed in May.

Creighton University economist Ernie Goss compiles the Mid-America Business Conditions report.  The business conditions index, which measures overall economic health, slipped to 57.6 in May from 60 in April. However, it continues to show economic growth in the region.

Goss says unemployment remains low, with some areas noting a shortage of highly skilled workers. He expects those regional unemployment rates to remain well below the national rate of 8.2 percent.

But Goss says there is some concern among supply managers about the impact of economic troubles in Europe. Goss says the troubles in Greece, Italy, and other nations have hurt export markets.

The nine-state survey includes Nebraska and Iowa.