Flooding Slowing Midwest Growth

By: wowt Email
By: wowt Email

A survey of nine Midwestern and Plains suggests that higher energy prices and supply problems are slowing economic growth.

A report released Friday says the Business Conditions Index for
the Mid-America region dropped in June, to 54.9 from 60.2 in May.

Creighton University economist Ernie Goss says higher energy
prices and supply problems stemming from the Japanese tsunami and Midwest and Plains flooding have slowed economic growth.

The survey of supply managers and executives and the report use
a collection of indexes ranging from zero to 100. Survey organizers
say any score above 50 suggests economic growth in the next three
to six months, while a score below 50 suggests a contracting
economy.

States in the survey are Arkansas, Iowa, Kansas, Minnesota,
Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.


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