Thanks to strong sales of appliances, car parts and other durable goods, the Mid-America Business Conditions Index grew in April, but at a slower pace than March, according to a closely watched Creighton University report issued Wednesday.
Growth continued but dipped slightly for the nine Midwestern states the report tracks. Exports, employment, business confidence and orders for long-lasting goods rose during the month, while total orders fell and inflationary pressures at the wholesale level "remain restrained," said report author Ernie Goss, director of Creighton's Economic Forecasting Group. The index, which fell to 56.8 in April from 58.2 in March, tracks Minnesota, the Dakotas, Arkansas, Kansas, Nebraska, Missouri, Oklahoma and Iowa.
For a fifth month, Minnesota business conditions grew. The state's index rose to 55.7 from 55.2 with help from improved orders, production and employment. "Our surveys over the past several months point to an expanding [Minnesota] economy in the months ahead with solid improvements in business activity," Goss said.
On a national level, manufacturers across the country continued to show growth in April, but "at the lowest rate of the year," according to an Institute for Supply Management report issued Wednesday. That report found that manufacturing activity expanded for a fifth consecutive month, especially for furniture, printing, electrical equipment and clothing firms. At the same time, employment fell during the month.
Dee DePass • 612-673-7725
