OMAHA, N.E.(KELO)- South Dakota’s Manufacturing economy is showing signs of stress.
Creighton University’s Mid-America Business Conditions Index for July shows inflation cooling because the economy is slowing down.
Economist, Dr. Ernie Goss says South Dakota’s Manufacturing job numbers were the lowest in the region last month.
South Dakota’s manufacturing exports fell by nearly 11-percent in July.
Concerns about a possible U-S recession drove Japan’s market to its worst one-day sell-off since 1987.
The Dow Jones Average on the New York Stock Exchange is in recovery mode today after losing over a thousand points yesterday.
Goss says those concerns are pushing interest rates slightly lower.
World wide markets have been hit hard, along with U-S markets.
They’re all in recovery mode Tuesday, Goss says no one is sure where we go from here.
Goss says calls for the Fed to lower rates probably won’t come until next month.
The Index includes a survey of manufacturing supply managers in a nine-state region of the midwest.