Survey suggests economy slowing down in 9 Midwest states, including ND

State News
economy_mgn_640x360_71027B00-FMNOW_1532701395889.png

OMAHA, Neb. (AP) — A new monthly survey of business leaders suggests the economy is slowing down in nine Midwest and Plains states as the U.S. trade war with China continues, according to a report released Monday.

The overall index for the region slipped into negative territory at 48.6 in November from October’s 52.6.

The survey results are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests growth. A score below that suggests decline.

“Slow global growth and trade skirmishes and wars are negatively affecting growth among manufacturers in the region,” said Creighton University economist Ernie Goss, who oversees the survey.

The survey covers North Dakota, Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma and South Dakota.

The regional trade numbers showed new export orders falling to 39.1 from October’s 44.7. But imports increased to 52 in November from last month’s 48.2 as supply managers bought additional items ahead of higher tariffs expected in the weeks ahead.

The region’s employment index fell to 37.2 in November from October’s 50 as some businesses struggled to find workers to hire. Goss said the availability of workers continues to constrain job growth in the region.

The confidence index, which measures sentiment about the next six months, improved to 52.9 in November from October’s 47.3. Goss said business confidence will depend on the progress in trade talks with China and the passage of the nation’s trade agreement with Canada and Mexico.

The wholesale price index, which measures inflation, increased to 65.7 in November from 57 in October. Goss said tariffs have had only a modest impact on inflation so far.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Recent Videos

Thursday's Forecast: cooler & windy

Thumbnail for the video titled "Thursday's Forecast: cooler & windy"

Life Hacks: FRUIT

Thumbnail for the video titled "Life Hacks: FRUIT"

Mandan Softball

Thumbnail for the video titled "Mandan Softball"

Michael Coachman

Thumbnail for the video titled "Michael Coachman"

Summer Reading

Thumbnail for the video titled "Summer Reading"

New Salem Track & Field

Thumbnail for the video titled "New Salem Track & Field"

Class B Baseball

Thumbnail for the video titled "Class B Baseball"

Wednesday, May 27th, 2020 - KX Storm Team Evening Forecast - Dave Holder

Thumbnail for the video titled "Wednesday, May 27th, 2020 - KX Storm Team Evening Forecast - Dave Holder"

Dewey Reinert

Thumbnail for the video titled "Dewey Reinert"

Bismarck City Commission

Thumbnail for the video titled "Bismarck City Commission"

Brandi Jude City Commission

Thumbnail for the video titled "Brandi Jude City Commission"

Steve Marquardt City Commission

Thumbnail for the video titled "Steve Marquardt City Commission"

Mike Connelly City Commission

Thumbnail for the video titled "Mike Connelly City Commission"

Mark Splonskowski City Commission

Thumbnail for the video titled "Mark Splonskowski City Commission"

Kids and Anxiety: Expert Panel

Thumbnail for the video titled "Kids and Anxiety: Expert Panel"

KX Storm Team Full Evening Forecast w/Tom Schrader 5/27

Thumbnail for the video titled "KX Storm Team Full Evening Forecast w/Tom Schrader 5/27"

Grand Forks Shooting

Thumbnail for the video titled "Grand Forks Shooting"

Job Market

Thumbnail for the video titled "Job Market"

Ward Co. Tests Voting Equip.

Thumbnail for the video titled "Ward Co. Tests Voting Equip."

Amber's Wednesday Morning #OneMinuteForecast 5/27

Thumbnail for the video titled "Amber's Wednesday Morning #OneMinuteForecast 5/27"
More Video

KX News Trending Stories

Don't Miss

Daily Pledge

More Daily Pledge