Photo: Dorwart, Mike (uploader)
OMAHA, Nebraska -- A monthly Midwest economic report for October is a bit of a mixed bag.
The nine-state Mid-America Business Conditions Index is still showing growth, as October's 51.5 Index reading is down from 52.5 in September.
Any reading above 50 on the Index's 0-100 scale is considered to be in the range of growth.
Creighton University Economist Ernie Goss says the new Index report is also showing some pessimism among business leaders.
"Sixty percent of the manufacturing supply managers expect a downturn in economic activity in the next six months. Only one-in-10 sees growth ahead, so that's not exactly what we're looking for," he says.
Goss is also holding onto the prospect for an downturn in the national economy early in the new year.
"I'm expecting a slowdown--a fairly significant slowdown. I'll call it a rolling recession, meaning certain parts of the economy are not doing doing well," he says.
The nine-state Mid-America Business Conditions Index surveys supply managers in Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.