(Des Moines) Creighton University Economist Dr. Ernie Goss says the Midwest economy in February shows a mixed picture, with some good and bad news. He says a survey of Manufacturers and Supply Managers showed wholesale prices at the highest levels since July 2020.
Dr. Goss says the good news is that more jobs were added in February, the overall best reading number recorded since July 2020 in the Mid-America Region, including Iowa. The nine-state region’s Creighton University Mid-America Business Conditions Index also rebounded to its highest level since July last year. However, Goss remains cautious about the economy in the months ahead.
The Fed’s interest rate hikes have not yet curtailed inflation, which raises the question, WHY?
Dr. Goss says it is a little too early to tell if inflation will not continue higher. He says, for example, 70 million social security recipients received a raise this year of 8.2 percent.
The states included in the monthly survey are Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma, and South Dakota.
