Leading economic gauge for state points to growth
BY LAURIE WINSLOW World Staff Writer
Thursday, November 01, 2012
A leading economic gauge for Oklahoma jumped again in October and continued pointing to economic growth in the months ahead, according to a report from Creighton University in Omaha. Neb.
The Business Conditions Index for Oklahoma advanced to 63.3 from September’s 56.6 and August’s 53.6.
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 points to economic contraction.
“Even as Oklahoma’s economy has expanded at a solid pace, we are tracking somewhat weaker, but positive, job growth. Companies in the state report shortages of skilled labor even as some firms cut jobs,” said Ernie Goss, director of the Economic Forecasting Group at Creighton, in a written statement.
The overall index for the nine-state Mid-America region slumped to o 46.5 from September’s tepid 50.4, pointing to slightly negative growth for the region in the next three to six months.