Despite Expanding Regional Economy, Concern Continues To Increase About A Recession

(WNAX) — While the regional economy is still expanding, there are some growing concerns. Ernie Goss with Creighton University in Omaha conducts the monthly survey of business managers in the nine state Mid America region. He says inflation is starting to be a factor…

“The course consumer price that we’re seeing right now is about, year-over-year about 2.4% so it’s (the) underreported right now. We are seeing what we call the core CPI, of course Consumer Price Index is up 2.4% year-over-year and that’s well above what we like to see. We’d like to see it at 2.0 so there are some inflation embers there I’ll call it and that could be a problem going forward.”

Goss says businesses across the region need more workers…

“The global economy is in an economic slowdown and recession certain parts of the globe. In this part of the country and the U-S we’re seeing continued expansion; very low unemployment rate, so that’s one thing we need; qualified and available workers.”

Goss says a big boost would come if Congress passes the USMCA trade deal…

“That needs to be approved and signed by the President. We’re seeing political haggling going on and that’s not good and certainly not good for this part of the country; particularly those businesses that are tied to agriculture. Where this is going to be very good for agriculture; we need to see that passed and signed by the President.”

Goss says any trade deal worked out with China would also help regional businesses.