Economic Outlook
March survey highlights:
* Creighton’s regional Business Conditions Index climbed into a range indicating very strong growth.
* The speed of the delivery of raw materials and supplies slowed to its lowest pace on record.
* The wholesale inflation gauge indicates substantial upward price pressure.
* More than eight of 10 supply managers reported supply bottlenecks and delays for February and March.
* More than one in four manufacturers named shipping and transportation delays as a top factor producing supply bottlenecks.
* Since bottoming in April of last year, the region has added almost 46,000 manufacturing jobs.
March Survey Results at a Glance:
* Overall index rose to its highest reading since January 2020.
* Overall index rocketed to a record high for the month.
* Approximately, 68.8% of bank CEOs reported an expanding local economy, while the remaining 31.2% indicated little or no growth.
* The farmland price index advanced its highest level since November 2012.
* The farm equipment-sales index rose to its highest reading since February 2013.
* Approximately 82.8% of bank CEOs recommended that the Federal Reserve raise interest rates by at least one-fourth of one percentage point in the next 12 months.
* Despite recent job gains, the region’s nonfarm employment level remains 218,600 jobs below its pre-COVID-19 level.
