Omaha, NE — Creighton University economist Ernie Goss says he was “shocked” by the progress shown in the latest economic survey for Iowa and eight other Midwestern states.
While he expected another drop, Goss says the region’s overall index, or business barometer, rose to its highest level since July of 2022. That index is measured on a zero-to-100 scale and it bounded from 47 in January to just over 56 in February, a huge jump.
The regional wholesale inflation gauge rocketed to a six-month high, Goss says, and while hiring numbers were up, the survey found most companies are still hurting for help.
The business barometer for Iowa jumped almost six points during the month, climbing from 47 in January to just over 53 in February. Goss says the Midwest’s numbers were similar and somewhat brightened the projections looking ahead.
Goss says the residential housing market remains mired in recession, in Iowa and across the region.
For Iowa, Goss says machinery manufacturing continues to expand but at a slow pace, while non-durable goods manufacturers, including food processes, expect expanding economic conditions.
