Ernie Goss
Ernie Goss
automobile challenges continue course driver growth industry missouri months near point related rest somewhat survey weaker
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.
higher interest quarter rates second stronger
It's going to be stronger in the first quarter and in the end of the second quarter. It's going to weaken as higher interest rates set in.
bullish convert definitely durable economic employment goods growth improving january job missouri months orders past picture producers several strong terms
Job growth in Missouri has definitely slowed over the past several months. In terms of hiring, Missouri experienced January job losses. However, strong new orders should convert to an improving employment picture in the months ahead. Durable goods producers were much more bullish in their economic assessments for January than non-durable goods manufacturers.
asian attempt beef derive economic foreign gains market nation opening presence slow stands state stimulus
No other state in the nation stands to derive as much of an economic stimulus from the opening of the Asian beef market as Nebraska. However, economic gains are going to be slow going as food-processing firms attempt to re-establish a beef presence in these foreign markets.
continue current durable economic goods growth likely lower positive remain south time weaker
For the first time in two years, we are detecting weaker economic growth in South Dakota's economy. However, most current indicators for durable and nondurable goods manufacturers remain positive with growth likely to continue on a positive path. The growth for 2006 will be lower than that for 2005.
certainly clear february january played record region role supporting warm weather
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.
announced businesses close closure confidence despite energy ethanol fortunes high industry regional renewable rising stood ties tyson
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.
businesses completing dakota month ordinarily played projects pushing reported role south until weather
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.
few inflation lower national past point pressures seen somewhat
As we have seen in the past few months, our inflation gauge, and most national inflation indicators, point to somewhat lower inflationary pressures ahead.
growth hike judgment next rate recent region slow
The most recent rate increases, and a rate hike at its next meeting, in my judgment will slow growth to an unacceptably low rate for the region and the nation.
anticipate basis begin committee december designed expect experience federal force full gauge hike increase increased inflation interest january june last lower market meeting national near next open point pressures raise rates reserve since somewhat soon stated time year
While our inflation gauge and most national inflation indicators point to somewhat lower inflationary pressures ahead, I expect the Federal Reserve Open Market Committee to raise interest rates at its next meeting on Jan. 31. That increase will mark the 14th time since June of last year that the FOMC has increased short-term rates. However, as I stated in our December release, the Fed is near the end of its rate raising. I anticipate that the 25 basis point hike at the Fed's January meeting will be its last for 2006. Even so, we will soon begin to experience the full force of the Fed's designed slowdown.
began below pace somewhat strong utah
Utah began 2006 on a strong note, but on a pace somewhat below that of 2005.
business city closing continuing due economic economy fairly gm improving likely negative oklahoma operations positive produce reported sector service year
Transportation firms reported continuing economic weakness. While 2006 is likely to be a positive year for the Oklahoma economy due to an improving telecommunications sector and expansions in business service firms, the closing of GM operations in Oklahoma City will produce some fairly negative economic consequences.
affecting asian beef borders factor growth open partners rate state trading
The rate at which our Asian trading partners open their borders to U.S. beef will be an important factor affecting growth for the state in 2006.