Economic Good News
Omaha, NE – The January Business Conditions Index for the Mid-America region, a leading economic indicator from a survey of supply managers in a nine-state area, rose to a healthy level. The index expanded to 54.7 from December's 50.3 and November's 47.5. An index of 50.0 is considered growth neutral. Creighton University's Dr. Ernie Goss conducts the survey.
For the first time since August of last year, Oklahoma's leading economic indicator climbed above growth neutral. The Business Conditions Index advanced to 54.5 from December's 43.0 and November's 49.4. Components of January's overall reading were new orders at 49.7, production, or sales, at 49.4, delivery lead time at 76.4, inventories at 45.5, and employment at 51.5. "Except for food producers in the state, nondurable goods manufacturers reported weak economic activity for January. On the other hand, durable goods producers are experiencing solid upturns in economic activity. Both sectors continue to add few jobs even as the economic outlook improves," said Goss.