Arkansas' overall economic index slips in September
Posted: October 1, 2012 at 9:08 a.m.
Updated: October 1, 2012 at 11:05 a.m.
OMAHA, Neb. A new survey of business leaders suggests little or no economic growth in most of a group of nine Midwest and Plains states through the end of the year, but the booming oil business will continue to drive growth in North Dakota and Oklahoma.
The region’s overall economic index improved to a weak 50.4 in September from August’s 49.7.
Any score above 50 suggests economic growth in the months ahead, while a score below 50 suggests decline for that factor.
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
Arkansas' overall index slipped to 49.6 from August’s 51.2. Components of the index were new orders at 43.5, production or sales at 49.6, delivery lead time at 50.3, inventories at 50.5, and employment at 54.
“Job growth in the state has slipped over the past several months. Our recent surveys indicate that the Arkansas’ job growth will continue to decline for the final quarter of the year with no new net job gains,” Creighton University economics professor Ernie Goss said. “Job gains for durable goods producers will be offset by losses for nondurable goods manufacturers. The 2012 drought will continue to restrain retail sales in the state.”