Hej! Mit navn er Pex!

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44 ordspråk av Ernie Goss

Ernie Goss

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The bankers in our survey reported economic weakness across the board for February with readings of 28.8 for retail sales, 44.0 for new hiring and 38.5 for home sales.

Businesses located in the Northwest portion of Arkansas tended to report stronger economic conditions than businesses in other parts of the state. However, I do expect reasonably solid job growth for most areas through the second quarter of this year.

The trend in economic reports from supply managers in our survey has been fairly positive since October of last year following some of the negative shipping impacts from Hurricane Katrina. Companies with strong ties to the state's growing ethanol industry reported solid growth for February but were very optimistic about future economic growth for this sector.

Non-durable goods manufacturers, especially food processors, reported much softer economic conditions for the month. On the other hand, durable goods producers detailed solid, but not spectacular conditions for February.

Survey results, while somewhat weaker than the rest of the nation, continue to point to growth for Missouri in the months ahead. Of course challenges and opportunities related to automobile industry restructuring will be an important driver in the near and intermediate term.

Businesses in North Dakota definitely benefited from much warmer weather for the month according to comments from businesses in our survey. It is difficult to separate out the impacts of weather from more fundamental economic factors, but even so, our survey still points to solid growth in the months ahead.

It is certainly clear that record warm weather for much of the region for January and February played an important role in supporting the economy.

For example, greater reliance on ethanol by the U.S. will make many areas in the region clear economic winners.

However, the real danger is that the warm weather may have fooled many into thinking the economy is doing better than it is.

It's clear the overall economy is solid and pointing to growth in the upcoming months, much stronger than anticipated earlier because of energy prices and natural gas prices. We would have expected much slower growth.

I expect positive, but weaker hiring in the region in the months ahead.

It's hard to say why the losses are so great in Missouri, but a lot of it has to do with heavy manufacturing. Companies are able to expand in terms of new orders without expanding employment. That's not entirely bad. I mean, it may be bad for the workers, but not for the economy.

Despite the announced closure of the two Tyson plants, Nebraska's confidence index stood at a regional high of 70.2. Certainly, the rising fortunes of the state's ethanol and renewable energy industry have buoyed businesses in this industry or firms with close ties to this industry.

Of course the loss of the 2,400 GM jobs will hurt the Oklahoma and Oklahoma City economies. However, given the provisions of job banks, the full force of the negative impacts will not be felt until 2008. In the interim, our survey points to solid growth with positive job gains in the months ahead for Oklahoma's economy.

As in much of the region, weather played an important role in pushing the state's index higher. Businesses in South Dakota reported undertaking and completing construction projects for the month that would ordinarily have been sidelined until spring.

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