OMAHA, Nebraska -- A survey of Midwest business mangers in September continues to show growth, but at a much slower rate than earlier this summer.
The nine-state Mid-America Business Conditions Index for September is 52.7--down from August’s 55.5.
"This is the fifth decline (in the last six months), and is the lowest number since June of 2020. The readings are getting worse and worse," says Creighton University Economic Professor Ernie Goss.
In the monthly index, any reading above 50 is considered growth.
Goss says the Index is above growth-neutral for a 28th month in a row, but there are questions about how much longer the it'll last.
"It's a slowing economy. I'll say that I expect to weaken even further in the weeks and months ahead," he says.
Goss says the business managers in the monthly survey have ongoing concerns about inflation and the national supply chain.
He says those supply chain issues are also prompting retailers to order holiday merchandise early, which may serve to limit economic growth in the weeks before Christmas.
The monthly Mid-America Business Conditions Index surveys supply managers and other business leaders in Iowa, Nebraska, Arkansas, Kansas, Minnesota, Missouri, North Dakota, Oklahoma, and South Dakota