Economic indicator shows continued growth for Oklahoma
BY LAURIE WINSLOW World Staff Writer
Tuesday, September 04, 2012
A leading economic indicator for Oklahoma rose in August, pointing to growth in the coming months.
The state’s Business Conditions Index advanced to 53.6 from July’s 52.7.
The index, taken from a survey of businesses, is derived from new orders, production or sales, employment, inventories and delivery lead time.
A number greater than 50 signals expansion in the next three to six months, and a number less than 50 indicates economic contraction.
“Durable and nondurable goods manufacturers in the state, especially those linked to energy, continue to experience healthy growth,” said Ernie Goss, director of Creighton’s Economic Forecasting Group, in written comments. “Oklahoma’s employment level is more than 8,000, or 0.5 percent, above its pre-recession level. I expect the state to continue to add jobs in the next three to six months, but at a slower pace than that experienced in the first half of 2012.”
The overall index for the nine-state mid-America region rose to a still weak 49.7, up from 48.7 in July.