OMAHA, Nebraska -- According to April's Mid-America Business Condition Index, the COVID-19 coronavirus is making itself felt all across the Midwest economy.
"The overall reading moved to 35.1, well into recession territory--that's down from 46.2 in March. The April reading was the lowest since the recession of February, 2009" says Creighton University economist Ernie Goss.
He says COVID-19 is hitting employment numbers especially hard.
"Six of 10 employers in our survey reduced employment due to the coronavirus. Sixty-three percent of firms reported worker absences" Goss says.
He says the economy's not likely to get substantially better unless there's a vaccine.
"Right now the economy is suffering more from the lock-downs and the economic downturn than it's suffering from the coronavirus" Goss says
The monthly Mid-America Business Condition Index surveys companies in nine states--Iowa, Nebraska, Arkansas, Kansas, Minnesota, Missouri, North Dakota, Oklahoma, and South Dakota.