Business index points to growth in Oklahoma
BY LAURIE WINSLOW World Staff Writer
Tuesday, May 01, 2012
Oklahoma’s Business Conditions Index continued to point to a growing economy in the coming months.
The state’s Business Conditions Index rose to a healthy 62.6 in April, up from 58.6 in March, according to information released Tuesday by Creighton University in Omaha, Neb.
The index, taken from a survey, is an average derived from new orders, production or sales, employment, inventories and delivery lead time. A number greater than 50 points to expansion in the next three to six months, while a number less than 50 indicates contraction in the economy.
“Second only to North Dakota, Oklahoma’s growth continues uninterrupted and very positive. Our survey indicates no change to that growth in the months ahead,” said Ernie Goss, director of Creighton’s Economic Forecasting Group, in a written statement. “Despite healthy economic activity, firms in the state are not adding to the hourly work-week of current employees. Instead, firms are adding new workers.”
He noted that durable goods producers, especially those linked to energy and international markets, are experiencing solid growth.
Likewise, the monthly Business Conditions Index for the nine-state Mid-America region indicates growing strength in the regional economy as the index climbed to 60.0 last month, up from 58.6 in March and 58.4 in February.