For a ninth straight month, the Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, moved into growth territory.
More than eight of 10 supply managers reported supply bottlenecks and delays for the month. Shipping and transportation delays were named as the top issue accounting for supply bottlenecks. Ernie Goss, PhD, director of Creighton University’s Economic Forecasting Group says the results are, very qualified, good news.
“Since bottoming out in April, the region has regained almost one-half of the manufacturing jobs lost to COVID-19. Even so, the regional manufacturing level is currently down by approximately 50,000 jobs, or 3.5%. Creighton’s monthly survey results indicate that the region is adding jobs and economic activity at a healthy pace, and that growth will remain healthy for the first half of 2021.”
The Index, which ranges between 0 and 100, climbed to a very strong 69.6 from 67.3 in January. The Kansas Business Conditions Index for February slipped to 61.6 from 62.0 in January.