The Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, fell again in September but remained above growth neutral for the 28th straight month. The Index, which ranges between 0 and 100 with 50.0 representing growth neutral, dropped to 52.7 in September from August's 55.5. This marks the index's lowest reading since June 2020, and the fifth decline in the past six months.
The Kansas Business Conditions Index for September declined to a weak 48.0 from August's 54.8. Ernie Goss, director of Creighton University's Economic Forecasting Group says, "durable goods producers, including machinery manufacturers, are reporting solid growth. Non-durable goods producers, including food processors, are reporting modest growth." Goss also says BLS data indicates that average hourly manufacturing wages expanded by a strong 8.2%, over the past 12 months.
