Business

Midwest economy improving

But businesses are less optimistic

Ernie Goss

Creighton University
Ernie Goss Creighton University

OMAHA, Neb. — The economy continues improving in nine Midwest and Plains states, according to a new survey, but business leaders are less optimistic after the latest surge in coronavirus cases in the region.

The overall index for the region suggests strong growth even though it dipped to 64.1 in December from November’s 69. Any score above 50 on the survey’s indexes suggests growth, while a score below 50 suggests recession.

Creighton University economist Ernie Goss, who oversees the monthly survey, said the manufacturing sector has been growing steadily since restrictions related to the virus started to be relaxed in the spring. But current activity still remains below the level it was at before the pandemic began.

Goss said the confidence index in the survey, released Monday, suggests business leaders are worried about the economy after the recent growth in virus cases across the region.

The confidence index dipped into negative territory at 45.8 in December from November’s neutral score of 50.

Companies still were hiring this past month, but the pace of job growth slowed.

The employment index declined to 57.7 in December from November’s 63.1.

Goss said the region still has 4.7 percent fewer jobs now than when the pandemic began — a decrease of about 655,000 jobs.

The monthly survey covers Iowa as well as Arkansas, Kansas, Minnesota, Missouri, Nebraska, North and South Dakota, and Oklahoma.

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