Survey shows growth in Oklahoma's economy
The business conditions index for Oklahoma grew in January, according to data released Friday by Creighton University in Nebraska.
The business conditions index for Oklahoma grew in January, according to data released Friday by Nebraska-based Creighton University.
The lead economic indicator from Creighton's survey of supply managers grew to 53.8 from 52.1 in December.
An index of greater than 50 indicates economic expansion in the survey.
“Oklahoma, much like North Dakota, has benefited from an expanding energy sector,” said Ernie Goss, professor of economics at Creighton's College of Business and director of the Denver-based Goss Institute. “Like North Dakota, that growth has softened. I expect growth for the first half of 2013 to be positive, but well down from the same period in 2012.”
Creighton surveys economic conditions in Oklahoma as part of its monthly Mid-America Business Conditions Index, which also includes Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.
The survey pointed to slow growth for the next three to six months.
The business conditions index for the nine-state region grew to 52.1 for January, up from 49.5 in December.
“The regional economy's manufacturing sector moved sideways to slightly down, with firms dependent on sales abroad reporting pullbacks in orders. On the other hand, growth among durable-goods producers ... was a definite plus for January,” Goss said.
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