A second straight monthly survey of nine Midwestern states, including Kansas and Missouri, suggests a slowdown in the region’s economy.
A report said the overall Mid-American Business Conditions Index dropped to 47.7 last month, compared with 49.6 in August. Creighton University economist Ernie Goss, who oversees the survey, cited the strong U.S. dollar and global economic weakness among the reasons for the region’s economic slide.
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. A score below that suggests decline.
In a state-by-state breakdown, business conditions in Kansas slipped to 47.1 in September from 48.2 in August.
“Both durable- and nondurable-goods producers in the state continue to report downturns in economic activity, with transportation equipment manufacturing experiencing significant pullbacks,” Goss said.
Missouri’s index slipped to 50.5 from 50.9 in August.
“Weakness in the state’s nondurable-goods sector was offset by solid improvements for durable-goods manufacturers in the state,” Goss said.
The survey also covers Arkansas, Iowa, Minnesota, Nebraska, North Dakota, Oklahoma and South Dakota.