A new monthly survey suggests that worries about Russia's invasion of Ukraine, soaring inflation and rising interest rates combined to undermine the confidence of business leaders in nine Midwest and Plains states.
Creighton University economist Ernie Goss said businesses also fear the war may worsen the ongoing supply chain problems and push commodity prices higher. The report's confidence index fell to its lowest point ever in February when it hit 19.5, falling from January's already low 36.2. Any score below 50 suggests a negative outlook.
The monthly survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
