Goss index above growth-neutral in November
Creighton University’s Goss Mid-America Business Conditions Index was above growth neutral in November for the 23rd time in 24 months, the university announced today.
The index for the nine-state Mid-America region climbed to 52.6 in November from 49.9 in October. Readings above 50 indicate growth.
The index is a leading economic indicator derived from a monthly survey of supply managers that measures new orders, production or sales, employment, inventories and delivery lead time. It’s the same methodology used by the Institute for Supply Management.
The employment index, a component of the overall index, remained below growth neutral, rising to 49.5 in November from 49 in October. Approximately 18 percent of surveyed companies reported net job reductions for November, said Ernie Goss, the director of Creighton’s economic forecasting group.
The Iowa index remained above growth neutral for the 23rd straight month. The index rose to 57.7 in November after reading 55.4 in October. Iowa has added about 21,000 jobs since December 2009, Goss said, but must add another 41,000 to reach pre-recession levels.
Creighton University’s Goss Mid-America Business Conditions Index was above growth neutral in November for the 23rd time in 24 months, the university announced today.
The index for the nine-state Mid-America region climbed to 52.6 in November from 49.9 in October. Readings above 50 indicate growth.
The index is a leading economic indicator derived from a monthly survey of supply managers that measures new orders, production or sales, employment, inventories and delivery lead time. It’s the same methodology used by the Institute for Supply Management.
The employment index, a component of the overall index, remained below growth neutral, rising to 49.5 in November from 49 in October. Approximately 18 percent of surveyed companies reported net job reductions for November, said Ernie Goss, the director of Creighton’s economic forecasting group.
The Iowa index remained above growth neutral for the 23rd straight month. The index rose to 57.7 in November after reading 55.4 in October. Iowa has added about 21,000 jobs since December 2009, Goss said, but must add another 41,000 to reach pre-recession levels.
