OMAHA, Nebraska -- The Midwest economy took a step back in November.
The nine-state Mid-America Business Conditions Index for last month shows a 0-to-100 reading of 69.0, down from October's 70.2. An index reading of 50 is growth-neutral.
"We are seeing some slower growth. We need to see more, of course, more of these strong readings before we get back to pre-COVID levels" says Creighton University Economics Professor Ernie Goss.
Goss says last month's Index shows a regional economy that's getting stronger, but slipping a bit from big gains the month before.
"The overall economic upturn that we're seeing--instead of a V-shaped recovery we're going to see more of a swoosh or check-mark. In other words, a sharp downward turn and now more of a moderate upturn" Goss says.
Despite November's slight decline from October, the Mid-America Business Conditions Index has shown growth for six straight months after a post-2008 recession low in April
The Index surveys business leaders in Iowa, Nebraska, Arkansas, Kansas, Minnesota, Missouri, North Dakota, Oklahoma, and South Dakota.