Monthly Business Survey Shows Continued Weak Oklahoma Economy

The Midwest might finally see an improving economy but not two States that rely heavily on oil and gas—Oklahoma and North Dakota. It’s the findings in the January survey of overall Mid-American Business Conditions found in the survey carried out by Creighton University economist Dr. Ernie Goss.

He says Oklahoma and North Dakota, because they rely so heavily on the oil and gas industry again did not see economic growth in January while seven other states, Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, and South Dakota had slight improvements in economic conditions.

His Business conditions Index jumped to 48.3 in January from 39.5 in December. The index had been 40.7 in November, 41.9 in October, 47.7 in September and 49.6 in August. Survey organizers say any score above 50 suggests economic growth.

The January results for Oklahoma showed another slump below growth neutral for a ninth straight month. In December, the index from the monthly survey of supply managers in Oklahoma also fell, showing a drop in new orders, production or sales and inventories. Goss says obviously Oklahoma is wishing for a weaker U.S. dollar and higher oil prices in order to turn things around in 2016. Bu he explained a strong U.S. dollar and continued global economic weakness will only hurt Oklahoma in 2016.

View the latest index explanation by Dr. Ernie Goss on youtube.

Dr. Ernie Goss youtube





   

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