A business conditions report for midwestern states indicates that economic growth has slowed overall, but ethanol is helping to fuel growth in at least one of the states.
In a monthly survey of supply managers in nine states, Creighton University’s Economic Forecasting Group found that Nebraska’s leading economic indicator, the Business Conditions Index, increased slightly for October. According to Creighton University Economics Professor Ernie Goss, “Aided by the construction of ethanol plants and ethanol production, non-urban areas of Nebraska continue to grow. Growth will be healthy into the first quarter of 2007 as high agricultural commodity prices assist rural communities that received adequate rainfall. In the urban areas, the transportation sector was a driver of October growth.”
States included in the survey are Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
Read more here.