OMAHA, Nebraska -- April's Midwest economy is continuing to show growth, despite some of the same business challenges that have been around for months.
The new nine-state Mid-America Business Conditions Index for April comes in at 65.9--down from March’s 71.3. On the Index's zero to 100 scale, a reading of 50 represents growth neutral.
"Four out of 10 supply managers expect those supply chain disruptions to get worse. Only one of five expect them to get better," says Creighton University Economist Ernie Goss.
Goss says only two of ten supply managers surveyed for the new Index expect improvements in supply chain disruptions in the next six months.
"Slowing deliveries is what we've seen across the region and across the U.S. That's really keeping the economy from really busting out," he says.
He says April's Mid-America Business Conditions Index also shows a regional economy that continues to be challenged by a lack of skilled workers.
"If you look at the states that we survey, only two of the states are back above pre-pandemic employment levels--those would be Arkansas and South Dakota. The other seven states are still below pre-pandemic levels of employment," Goss says.
He says the new Index also points to inflationary issues in the regional economy.
The monthly Mid-America Business Conditions Index surveys supply managers an other business leaders in Iowa, Nebraska, Arkansas, Kansas, Minnesota, Missouri, North Dakota, Oklahoma and South Dakota.