Survey shows Midwest economic recovery continues
Thursday, December 2, 2010
OMAHA, Neb. (AP) — A November survey of supply managers in nine Midwestern and Plains states suggests the region will continue the modest pace of its recovery in the months ahead, according to a report released Wednesday.
The Business Conditions Index for the Mid-America region rose to 55.9 last month from 52.3 in October.
November was the 12th consecutive month that the index has remained above growth neutral, the report said.
“Strength in the region’s agricultural and energy sectors is spilling over into the rest of the area economy,” said Creighton University economist Ernie Goss, who oversees the survey.
“For example, farmers have stepped up their buying of agricultural equipment, which has bolstered growth among the manufacturers and sellers of farm equipment and trucks,” Goss said.
Unless the debt problems of Portugal, Ireland and Spain spill over into the rest of Europe, Goss said, he expects strong agricultural income to continue to drive the Mid-America economy forward.