Monthly business survey shows economic decline in October
Omaha, NE – After nearly two years of growth, an index of economic indicators dropped below growth-neutral in October.
Creighton University economist Ernie Goss oversees the monthly survey of supply managers in nine states. The Business Conditions Index dropped below 50 in October, for the first time since November 2009. An index below 50 indicates economic decline.
Goss says it's a sign that national economic troubles have reached the Plains and Midwest. He says the states faring the best according to the survey are those with a strong agriculture base.
22 percent of supply managers surveyed for the monthly report believe there could be an economic recession in 2012.
Iowa and Nebraska are among the nine states in the survey.