Creighton: Iowa business conditions strengthen
Creighton University’s Business Conditions Index for Iowa rose slightly in November, hitting 55.2 after an October reading of 55. Anything above 50 indicates growth.
The monthly survey of supply managers found that the index for new orders orders was 58.4; production or sales, 58.8; delivery lead time, 53.3; employment, 54.3; and inventories, 51.4. “Over the past 12 months, Iowa increased manufacturing employment by 2.8 percent, or approximately 5,900 manufacturing jobs,” said Creighton economist Ernie Goss. Animal slaughtering grew, but machine manufacturing fell slightly.
The overall nine-state Mid-America Business Conditions Index fell to a “still healthy” 57.2 from October’s 58.8, Goss noted.
“Both the national and our regional indices indicate the manufacturing sector is advancing at a very healthy pace and that this expansion will spill over into the broader national and regional economies in the next three to six months,” Goss said in a statement.
Goss said the index has been in growth mode for a year, forecasting growth. Yet supply managers expect to offer raises of 2.6 percent in 2018.
New export orders increased significantly.