The July Creighton University Mid-America Business Conditions Index, an economic indicator for the nine-state region stretching from Minnesota to Arkansas, slumped to a weak reading signaling positive, but slower, growth for the region over the next three to six months.
The Business Conditions Index, which ranges between 0 and 100, fell to 52.0 from June’s 55.4. This is the lowest reading recorded in more than three years. Even so, this was the 32nd straight month the index has remained above growth neutral 50.0.
Looking ahead six months, economic optimism, as captured by the July Business Confidence Index, dropped to 51.4 from June’s much higher 59.1. This is the lowest recorded confidence reading since October 2016.