The monthly report on the economies of Oklahoma and 8 other states in the Midwest and Plains indicated a slight dip for January. But Creighton University economist professor Ernie Goss still says it’s healthy for the region.
“It’s a good report. Looking ahead 3 to 6 months, there’s good growth out there,” said Goss.
The Mid-America Business Conditions Index dropped to 57.3 in January from 59.0 in December. However Goss said manufacturing and other business sectors in the region are adding jobs at a solid pace.
“The economy’s looking very good. We’re seeing for the region good growth for the next 3 to 6 months,” he added. “The rural areas are still not doing as good as we’d like to see. Course, that’s the gray lining around the silver cloud.”
Oklahoma’s index has been above the 50.0 threshold for five months.
The Purchasing Management Index (PMI) is the primary component of the Economic Outlook website. Indices are reported for the overall economy, new orders, production, inventories, employment, delivery lead time, prices and confidence. The overall PMI is a composite index based on new orders, production, inventories, employment, and delivery lead time.
The overall index ranges between 0 percent and 100 percent, and an index above 50.0% indicates expansion while an index below 50.0% indicates contraction, for the next three to six months.
The indices are calculated from surveys of purchasing managers in the Mid-American region which includes the states of Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma, and South Dakota.
