Main Street Index Still Positive
The Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, rose above growth neutral for the 25th straight month.
The Business Conditions Index sank to 58.6 from May’s 60.
According to the U.S. Bureau of Labor Statistics, commodity prices are up approximately 21.5% over the last 12 months with farm products advancing by 25.1%, metal products expanding by 21.7%, and fuels soaring by 55.6% during this same time period.
Looking ahead six months, economic optimism as captured by the June Business Confidence Index dropped to a very weak 17.3 from 21.7 in May.
Supply managers assessed the likelihood of a recession in the next 12 months at 68.9%.
The Kansas Business Conditions Index for June declined to 58.6 from May’s 61.2.