Survey finds likely slowdown for business in 2007
By:
Updated: April 17, 2007
The survey, conducted by Creighton University`s Economic Forecasting Group, surveys supply managers and business leaders in a nine-state region.
The overall Business Conditions Index, a leading economic indicator, declined to 55.1, its lowest level since April 2003 and down from September`s 57.0. The index ranges between 0 and 100, and an index greater than 50 indicates an expansionary economy over the course of the next three to six months.
For the sixth consecutive month, Arkansas` Business Conditions Index moved lower. The index was relatively unchanged at 52.2 from September`s 52.3, signaling slower growth in the months ahead.
According to Creighton Economics Professor Ernie Goss, Arkansas` economic growth is likely to slow below the regional and national average through the first quarter of 2007. Estimated job growth for the fourth quarter of 2006, annualized and seasonally adjusted, is 1.0 percent.
The Creighton Economic Forecasting Group has conducted the monthly survey of supply managers in nine states since 1994 to produce leading economic indicators of the Mid-America economy. States included in the survey are Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
(Copyright 2006 Newsroom Solutions, LLC)
