The Norman Transcript

June 3, 2014

Growth on the horizon

The Norman Transcript

NORMAN — A widely-quoted business index suggests healthy economic growth over the next three to six months in nine Midwestern and Great Plains states.

The Mid-American Business Conditions Index rose slightly from May to April with the index hitting 60.5. Any score above 50 indicates positive economic growth.

“This is the highest overall reading that we have recorded in more than three years,” Creighton University economist Ernie Goss, who oversees the report, told the Associated Press. “Strong growth in new orders over the past two months was the prime factor pushing the overall index higher.”

The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.

Oklahoma’s overall index rose to 583 in May compared to 54.8 in April. Survey officials said Oklahoma has healthy manufacturing growth but has fewer workers.

Manufacturing wages have increased more than 4 percent from a year earlier. The survey points to solid improvements for manufacturing and overall economic growth for the next two business quarters.

Breaking news, severe weather alerts, AMBER alerts, sports scores from The Norman Transcript are available as text messages right to your phone or mobile device. You decide which type of alerts you want to receive. Find out more or to signup, click here.