OMAHA, Nebraska -- The Midwest economy is continuing to recover from the massive hit of COVID-19 business closures.
"Things are looking much better. We're still not back in terms in jobs from pre- COVID-19 levels, but we're moving in the right direction. This was as good a survey as we could have hoped for" says Creighton University Economist Ernie Goss.
He says July's nine-state Mid-America Business Condition Index was in positive territory at 57.4, up significantly from June's 50.3.
The Index is measured on a 0-100 scale, with 50 considered "growth neutral."
Goss says regional business managers report that employment is still an issue, even as the economy shows a bit of recovery.
"From pre- COVID-19 levels the region's down about 900,000 jobs. Most of the states in the overall region are down about 6.5 percent" he says.
Goss says the lack of a coronavirus vaccine will continue to hold back robust recovery in the Midwest economy.
"COVID-19 is still in charge. That will be the major factor that will determine where the regional economy is going" he says.
The Mid-America Business Conditions Index's nine-state survey region includes Iowa, Nebraska, Arkansas, Kansas, Minnesota, Missouri, North Dakota, Oklahoma, and South Dakota.