For a third straight month, the Creighton University Mid-America Business Conditions Index expanded above growth neutral. The index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, ranges between 0 and 100 with 50.0 representing growth neutral. The overall index climbed to 54.8 from 50.8 in March.
"While it's too early to tell if the Federal Reserve is achieving its 'soft landing,' results from Creighton's surveys over the last several months are somewhat promising on the growth and inflation fronts, said Ernie Goss, PhD, director of Creighton University's Economic Forecasting Group. "However, the inflation reading, while moderating, serves as a negative signal for financial markets and the Federal Reserve's interest rate outlook."
The Kansas Business Conditions Index for April dropped to 49.7 from March's 54.6. According to U.S. Bureau of Labor Statistics data: between Quarter 1, 2022, and Quarter 1, 2023, Kansas' average manufacturing work week fell by 1.0 hour and hourly manufacturing hourly wages climbed by 9.6%.
