Business
12:29 pm
Mon June 3, 2013

Regional economy grew slowly in May

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

Creighton University economist Ernie Goss compiles the Business Conditions Index. May’s overall economic indicator was 56.2, down just slightly from 56.8 in April. A number above 50 indicates economic growth. Goss expects the regional economy to continue to grow over the next three to six months, albeit slowly.

Goss says the survey’s confidence index was up in May, and sequestration appears to have had little effect on the regional economy. Sequestration is the term used for the across-the-board federal spending cuts.

The monthly survey includes Iowa and Nebraska.