Survey shows hope for recovery even as economic indices drop

OMAHA, Neb. (AP) — The latest survey of supply managers in a nine-state region of the Midwest and Plains areas shows that many have hope for a rebound yet this year, even as the survey’s other indices show that the coronavirus pandemic has knocked the economy in Middle America for a loop.

The Mid-American Business Conditions index released on Friday plummeted from March’s 46.7 to 35.1 in April — the lowest reading since February 2009. However, the confidence index, which gauges supply managers’ economic outlook for the next six months, rose to 45.5 from March’s record low 14.5.

Any score above 50 suggests economic growth, while scores below 50 suggest decline. The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma, and South Dakota.