The Midwest economy sees record growth in the month of April.
Creighton University Economist Ernie Goss says the new Mid-America Business Conditions Index is at its highest level since the index started 30 years ago.
The Business Conditions Index, which ranges between 0 and 100, soared to its highest level since initiation of the survey almost three decades ago. The index climbed to 73.9 from March’s very strong 68.9.
Creighton’s regional manufacturing activity gauge is surging, but supply bottlenecks and labor shortages continue to restrain growth.
Goss says coronavirus pandemic recovery is being boosted by six-trillion dollars in federal stimulus.
The Mid-America Business Conditions Index surveys business supply managers in Iowa, Nebraska, Minnesota, Missouri, Kansas, North Dakota, South Dakota, Oklahoma, and Arkansas.
Kansas Report: The Kansas Business Conditions Index for April climbed to 75.0 from March’s 67.3. Components of the leading economic indicator from the monthly survey of supply managers were: new orders at 80.9, production or sales at 77.5, delivery lead time at 85.6, employment at 57.6, and inventories at 73.2. “Compared to pre-COVID-19 levels, according to U.S. Bureau of Labor Statistics, Kansas manufacturing employment is down 12,400 jobs, or 7.3%, while average hourly manufacturing wages are 1.1% higher,” said Goss.