Midwest economy shows signs of improvement, according to a new report

Omaha, NE – Creighton University's latest Business Conditions report shows signs the economy is improving.

Creighton Economics Professor Ernie Goss compiles the report. It shows the overall business conditions index rose to 51.7 in July. That's the first time since last August the index has been above 50. A number above 50 indicates economic growth, while a number below 50 indicates an economic slowdown.

Goss says the recession appears to be ending, but that doesn't mean more jobs are coming. 60% of the supply managers surveyed expect more layoffs through the end of this year.

Goss says inflation is possible next year because of the federal stimulus package and an increase in the money supply.

The Mid-America Business Conditions Index includes Nebraska, Iowa, Missouri, and Kansas.