Economy shows very strong October report

OMAHA, Neb. (WNAX) – The Mid America economy continues to recover from the pandemic shock in the spring. Ernie Goss, director of Creighton University’s Economic Forecasting Group says the October survey had another strong report.

Goss coordinates the survey of purchasing managers at businesses in a nine-state region from Minnesota and the Dakotas to Arkansas.

In April of this year, Covid-19 pushed the overall index to its lowest level in 11 years. Since April, the overall index has risen six consecutive months with five straight months above growth neutral fifty point zero.

Goss says job growth has also been very rapid.

Goss says most of the businesses they survey can’t find the workers they need.

Goss says looking ahead six months, economic optimism, as captured by the October Business Confidence Index, climbed to a very strong 70.4 from 69.4 in September.