It appears the recession will have a greater impact in the months ahead. Creighton University Economics Professor Dr. Ernie Goss Friday released the latest Mid-America survey of business managers in nine states. The December unemployment index skipped to 34.5 from November’s 39.0. That trend will likely continue.
The overall index for the region, which serves Iowa, Nebraska, Kansas, Minnesota, Missouri, Arkansas, North Dakota, South Dakota and Oklahoma, fell to 33 in December from November’s record low of 37.8. This is the third consecutive time the index plunged to a record low. Even with this bad news, Dr. Goss says the economic forecast is not all doom and gloom. Goss says accompanying the economic downturn has been a pullback in the prices-paid regional index.
The survey also shows that export orders are at a record low as well as import numbers. Dr. Goss says on a positive note, gasoline prices remain low, interest rates are lower and a Federal Government that is stimulating the economy. He says while this recession will be deep, it will be short-lived.