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Midwest Economy Rebounds In April

May 1, 2023 10:54PM CDT
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Midwest Economy Rebounds In April
FILE – A worker walks along tracks at a BNSF rail yard Sept. 14, 2022, in Kansas City. The third largest railroad union rejected its deal with freight railroads Monday, Oct. 10, 2022, renewing the possibility of a strike that could cripple the economy. (AP Photo/Charlie Riedel, File)

(Radio Iowa) As the weather got warmer, so did the state and regional economies, according to the monthly Creighton University survey of supply managers in Iowa and eight other states. Creighton economist Ernie Goss says for the third straight month, the Midwest’s overall index climbed above growth neutral, which is 50 on a zero-to-100 scale. Goss says the region’s April numbers were particularly encouraging.

 

The survey found almost six in ten supply managers fear recession will strike later this year, while about half report having trouble finding qualified workers to fill open positions.

 

For April, Goss says hiring numbers were weak. On the plus side for consumers, the survey shows inflation is finally backing off.

 

Iowa’s economic numbers looked especially good during April, as the overall index jumped from 49.4 in March to 55.8, well over growth neutral. Goss says between the first quarter of 2022 and this year’s first quarter, Iowa’s hourly manufacturing wages climbed by more than eight-percent.’