(Omaha) — Another leading indicator points to some growth in the KMAland manufacturing economy, despite continued job losses and higher inflation.
Creighton University’s Mid-America Business Conditions Index climbed to 56.0 for June, up from 54.4 in May. It’s the fifth straight month that the reading has been above growth-neutral, represented by 50.0, in the survey of supply managers and manufacturers in a nine-state region–including Iowa, Nebraska, and Missouri. Creighton Economics Professor Dr. Ernie Goss says the expansion is likely to positively impact the broader economy in the months ahead, but hiring continues to somewhat restrain the reading.
“So the overall reading was in the solid growth range, meaning GDP is likely to continue to move higher,” said Goss. “But, at the same time, we recorded job losses in manufacturing for the month of June. Now, this is the 10th time in the past 12 months that we’ve recorded job losses for the region.”…