For the sixth time in 2024, the Creighton University Mid-America Business
Conditions Index, a leading economic indicator for the nine-state region
stretching from Minnesota to Arkansas, sank below the 50.0 growth neutral
threshold.
When asked to identify the top economic challenges for their firm’s
operations in the months ahead, 38.7% named supply chain disruptions;
27.8% reported higher inflation; 11.1% identified labor shortages; 5.6%
listed cyber threats; and the remaining 16.8% named other issues.
U.S. Bureau of Labor Statistics data show that seasonally adjusted
regional manufacturing employment fell by 2,000 jobs (-0.2%) thus far in
2024. During the same period, U.S. manufacturing employment sank by 90,000
or -0.7%.
Looking ahead six months, economic optimism, as captured by the November
Business Confidence Index, rose sharply to 55.6 from 47.1 in October. “
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