Rising Fuel Prices Haven’t Slowed Midwest Economy

OMAHA, Neb. (AP) — A survey suggests that rising fuel prices haven’t slowed the economy in a nine-state region in the Midwest and Plains.

The overall Mid-America index rose to 58.6 in March from 58.4 in February. The index has risen for five months in a row.

Creighton University economist Ernie Goss oversees the survey, and he says only a significantly higher increase in oil prices or a major world catastrophe would derail the regional economic expansion.

Survey organizers say it uses a collection of indexes ranging from zero to 100 and that any score above 50 suggests growth while a score below 50 suggests decline for that factor.

The survey of business leaders and supply managers covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Tom

    It is not heavy travel season yet and that does not happen until summer vacation starts in June.

  • Fred Hayek

    The US government policy of printing money and deficit spending is reflected in higher gas and food prices. There will be an impact especially on poor people.

  • Brett

    Give it time. Gas prices have yet to peak yet, in fact, far from it. When gas prices go over $4 a gallon or so, there will be little “good” to come from it. High gas prices are like a huge “tax” on everything — food, consumer goods, anything that is shipped by car, truck, train, plane, or ship. And yes, it does hit the poor and middle class the hardest, the rich don’t even notice.

  • Dave

    It hasn’t slowed the economy because every retailer is just raising costs and excusing themselves from any allegations of greed by taking on an overall attitude with the consumer that “It’s not our fault, blame the raise in retail costs on the high gas prices, which is the government’s fault.”

    Meanwhile this outdated two party narcissistic political system we all hold so dear plays games with our children’s future by brainwashing most into thinking the matters of utmost importance are those of personal and religious beliefs.

    The consumer has to buy higher priced food, gas, and other day to day necessities, all day every day! All the while tolerating a do nothing government.

    Wake up America. We don’t need to revolt. We just need to join together, ignore the rhetoric, put petty behavior aside, and elect those that are willing to roll up the sleeves and start working on solutions with us together.

  • parked

    The reason is because the economy has been in PARK the whole time.

  • pumphandle

    The numbers are so skewed because of the absolute explosion in North Dakota due to the oil boom, Im so fortunate to have bought a home when the market crumbled therefore paying nothing for it, and 1 that is only 5 miles from my job. P.S. not in Minneapolis either thankfully

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