Two-State Region Shows Growth, Wholesale Inflation Expected to Climb

The Mid-American Business Conditions Index for June evidence of economic growth slowing pace despite reporting the region’s overall index climbed above growth neutral for the fifth month in a row.

The survey, published by Creighton University, showed the Business Conditions Index dropped to 50.8 from 51.3 in May.

However, the wholesale inflation gauge for the month aldo dropped to 67.4 from May’s 74.0. Supply managers surveyed expect wholesale prices for the products and services their firm purchases to climb by 0.7 percent over the next six months.

Furthermore, the June Business Confidence Index reached a “very weak” 32.6, that’s up from May’s 29.6. Approximately 48 percent of supply managers surveyed expect economic growth to decline in the next six months, according to the survey.

Kansas and Missouri Reports

The two-state region experienced promise for the month of June as both states increased their Business Conditions Index.

Kansas’ index increased, while still weak, to 48.6 from May’s 43.1. Also, Kansas increased exports by 2.4 percent from January to April this year compared to the same time period in 2022 and sees potential for further growth as transport equipment export showed the most growth of 30.4 percent in June.

Missouri faired better with an increase in the June Business Conditions Index to 53.1 from May’s 51.2. Missouri expanded exports by 6.4 percent for the first four months of 2023 compared to the same time in 2022. The state’s transportation equipment also led the way with export growth of 20.9 percent.

Read more on Creighton University Mid-American Business Conditions Index for June 2023, here.

Posted July 6, 2023