The Creighton University Mid-America Business Conditions Index for July, a leading economic indicator for a nine-state region stretching from North Dakota to Arkansas, slumped for the month.
The July Business Conditions Index, which ranges between zero and one hundred, declined to fifty point six from June’s fifty three. The regional index, much like the national reading, is pointing to weak growth through the third quarter of 2015.
Ernie Goss, director of Creighton University’s Economic Forecasting Group says the two major industries in the region are slowing.
Goss says the regional employment gauge improved for the month but remains at a level pointing to slow to no new hiring in the months ahead.
Goss says the inflation index was down for the month.
Looking ahead six months, economic optimism, as captured by the July business confidence index, plummeted to fifty two point four from June’s fifty nine point nine.
