A monthly regional economic index for Kansas, Missouri and seven other states has dropped again.
The survey, compiled by Creighton University, said the overall Mid-America Business Conditions Index fell in October to 51.8 from 54.3 in September. The figure was 57.2 in August.
Creighton University economist Ernie Goss, who oversees the survey, said Monday that sharp declines in grain and crude oil prices drove down the overall index for the month.
“October weakness in rural areas of the region offset stronger conditions in urban areas of the nine states,” Goss said.
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He also said the index figure points to “positive, but somewhat slower” economic gains in the months ahead.
The survey results from supply managers are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests economic growth, while a score below that suggests decline.
The survey also highlights economic conditions in individual states. Economic growth in both Kansas and Missouri dipped in October from the previous month, but business activity was still relatively strong.
The survey also covers Arkansas, Iowa, Minnesota, Nebraska, North Dakota, Oklahoma and South Dakota.