February 8, 2023 – According to the Creighton university Mid-America Business Conditions Index, overall business conditions for a nine-state region fell for the third straight month.
“This marked the lowest January reading for the overall, or business conditions index, since 2008, the beginning of the Great Recession, Said Ernie Goss, PhD, Director of Creighton University’s Economic Forecasting Group and Jack A. MacAllister Chair in Regional Economics in its Heider College of Business and is based on a survey of supply managers in this region.
Accordingly, new export orders slid to 42.8 in January from December’s 43.3, nearly mirroring a drop in January imports to 34.3 from December’s 36.8. Any number below 50.0 indicates contraction.
Considered a leading economic indicator for the states of Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma, North & South Dakota, the Heartland report is produced independently from the national Institute for Supply Management (ISM), which indicated a similar report for January.