Another positive monthly report for a business survey. Since declining to a record low in April of last year, the Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, moved above growth neutral for 13 of the last 14 months.
The Index ranges between 0 and 100, climbing to a very strong 73.5 from May’s 72.3. However, as in previous months, manufacturing supply managers report that labor shortages and supply bottlenecks continue to restrain growth.
The Kansas Business Conditions Index for June climbed to 76.9 from May’s 71.8. Average hourly wages for manufacturing production workers in Kansas declined 1.7% over the past 12 months, last in the 9 state region. Bright spots for the state were high scores in available inventories and delivery lead time.