Midwest survey suggests major recession fearsMore than a third of supply managers in nine Midwest and Plains states surveyed for a regional business index expect a recession in 2011.
By: Associated Press,
OMAHA, Neb. — More than a third of supply managers in nine Midwest and Plains states surveyed for a regional business index expect a recession in 2011.
As part of the Mid-America report released today, supply managers were asked their expectations for 2011, and 35 percent said a recession was likely or very likely.
The August overall economic index dipped to 55.8 from 60.8 in July.
The report uses a collection of indexes ranging from zero to 100. Any score above 50 suggests economic growth in the next three to six months, while a score below 50 suggests a contracting economy. The report is overseen by Creighton University economist Ernie Goss.
States in the survey are Minnesota, North Dakota, South Dakota, Arkansas, Iowa, Kansas, Missouri, Nebraska and Oklahoma.