Business index slumps signaling slower growth for region

OMAHA, Neb. (WNAX) – The July Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota and the Dakotas to Arkansas, slumped to a weak reading signaling positive, but slower growth for the region over the next three to six months.

Ernie Goss, director of Creighton University’s Economic Forecasting Group, says it could be an early sign of a slowing economy.

Goss says despite worker shortages, the July employment index was still positive.

Goss says impacts from the trade wars are also showing up.

Goss says looking ahead six months, economic optimism, as captured by the July Business Confidence Index, dropped to 51.4 from June’s much higher 59.1. This is the lowest recorded confidence reading since October 2016.