The rural economy in Middle America showed improvement in August, despite the effects of a global pandemic and a rare devastating windstorm earlier in the month, according to a monthly survey of nine Midwest and Plains states released on Sept. 1.
The overall index for the region jumped to 60 in August from July’s 57.4, and the region’s employment index moved above growth neutral 50 for the first time since January, coming in at 54.8 for August, compared with 48.5 in July. The survey results are compiled into a collection of indexes ranging from zero to 100. Any score above 50 suggests growth, while a score below 50 suggests decline.
Creighton University economist Ernie Goss, who oversees the survey, said four of five supply managers reported difficulty hiring qualified workers — even though the unemployment rate remains higher than before the coronavirus outbreak.
The confidence index climbed to a strong 73.3 — its highest level since February 2018 — from 68.3 in July. The confidence index measures business leaders’ expectations for the economy over the next six months.
“Since our survey was conducted after August’s derecho, I expected to record weaker business confidence,” Goss said. “However, our survey indicates that the region’s manufacturing sector was spared much of the negative impacts.”
The monthly survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
Topics Trends
Was this article valuable?
Here are more articles you may enjoy.
Iran Built Vast Camera Network to Control Dissent. Israel Turned it Into Targeting Tool 
After 62 Years, Florida Appeals Court Drops the Expert Witness Rule on Attorney Fees 
Jury Finds New Orleans Attorneys Guilty in Staged Auto Accident Scheme 
Viewpoint: Insurance Broker Valuations – The Elephant in the Room 
