The latest Mid-American Business Conditions Index released by Creighton University economist Ernie Goss shows his concern for what’s happened to the economy in Oklahoma and several other mid-western states.
Figures from his survey of supply managers in Oklahoma and 8 other states dropped again, suggesting either slow or no growth in their economies. His Index fell to 47.6 last month after hitting 50.1 in June.
He is especially concerned about the impact of oil prices on Oklahoma.
“Keep an eye on these oil prices. They could move below $40. That’s not a good number,” he commented.
“I’d like to seem them between $40 and $60,” said Goss in a video release of his report. “Preferably around $50 a barrel.”
His overall index ranges between 0 percent and 100 percent and an index number greater than 50 percent indicates an expansionary economy. An index under 50 percent forecasts a sluggish economy for the next three to six months.