OMAHA, Nebraska -- The Midwest economy continues to look positive.
The nine-state Mid-America Business Conditions Index for March was 68.9, down a bit from February’s 69.6. A rating of 50 is considered growth-neutral on Index's 0-100 scale.
While last month's Index showed another month of growth, Creighton University Economist Ernie Goss says the economy's still not fully recovered from last year's COVID-19 shutdowns.
"We're still four to five percent below pre-COVID levels, so we've still got more to go." Goss says "I expect us, by the end of the year, to be back to pre-COVID levels in terms of employment and overall economic activity."
He says hiring trends reflect the same pattern--still growing, but still behind pre-COVID levels.
"Hiring remains well into positive growth range." Goss says. "We're still down about four to five percent depending on the states across the region."
He says last month's Index continues to show a steep decline in business travel.
"That's going to hurt the hotel and restaurant industry, leisure and hospitality." Goss says "It will be under pressure, and will not be back to pre-COVID levels this year--it'll be the end of 2022."
The Mid-America Business Conditions Index is a monthly survey of supply and other business managers in Iowa, Nebraska, Arkansas, Kansas, Minnesota, Missouri, North Dakota, Oklahoma, and South Dakota.