Omaha, Neb. — A new survey of business leaders released Monday suggests the economy continues to recover in nine Midwest and Plains states, but businesses are still cutting jobs amid the ongoing impact of the coronavirus outbreak.
Creighton University economist Ernie Goss says the economy still remains weaker than before the virus outbreak began. The overall index for the region improved to 57.4 in July from Junes 50.3.
For Nebraska, the state’s overall index for July rose to 68.6 from 52.6 in June. Components of the index from the monthly survey of supply managers for July were: new orders at 68.6, production or sales at 67.2, delivery lead time at 62.1, inventories at 70.1, and employment at 55.0. “According to BLS data since the onset of COVID-19, Nebraska has lost 56,000 jobs, or approximately 5.4% of its total employment, and 2,900, or approximately 2.9%, of its manufacturing employment. Our surveys point to only slight job gains in the months ahead,” said Goss.
Survey organizers say any score above 50 suggests growth. A score below 50 suggests decline.
The monthly survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
Survey results for August will be released on Sept. 1, the first business day of the month.
Follow Goss on Twitter at http://twitter.com/erniegoss
For historical data and forecasts visit our website at
http://business.creighton.edu/organizations-programs/economic-outlook
