OMAHA, Nebraska-- Record growth for the Midwest economy in April.
"It is booming, and we're seeing some of the best numbers. In fact, the number's up from very strong readings in March. This economy's moving along," says Creighton University Economist Ernie Goss.
He says the new nine-state Mid-America Business Conditions Index soared to its highest level since it started almost three decades ago. April's index climbed to 73.9 from March’s 68.9.
In the Index, which ranges between 0 and 100, 50 is considered growth neutral.
Goss says federal stimulus money is playing a big part in the COVID-19 pandemic economic recovery.
"We've put in about $6 trillion. The Biden Administration's proposing even more spending that's going to result in much more brisk, much strong growth." Goss says.
Goss says while the regional manufacturing activity gauge is surging, supply bottlenecks and labor shortages continue to restrain growth.
The Mid-America Business Conditions Index surveys business supply managers in nine states-Iowa, Nebraska, Minnesota, Missouri, Kansas, North Dakota, South Dakota, Oklahoma, and Arkansas.