A survey of supply managers in Oklahoma and 8 other midwestern states shows only a slight improvement in the regional economies, according to the Mid-American Business Conditions Index compiled by Creighton University economist Ernie Goss. He said despite the slightly more positive report for March, the energy sector in Oklahoma and North Dakota, two states with heavy dependence on the oil and gas industry is still losing jobs and affecting the economies of the two states.
His Index rose to 50.6 in March from 50.5 in February and 48.3 in January. The survey has a possible 100 and anything above 50 reflects economist growth.
Goss said a strong U.S. dollar and economic weakness among the nation’s chief trading partners continues to slow regional growth. So does the downturn in the energy sector, where Oklahoma has lost more than 12,000 jobs in the past year and more energy firms are considering filing Chapter 11 Bankruptcy.
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
