Ernie Goss
Ernie Goss
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.
continue despite durable economic expanding expect experience goods growth improved industry overall report vehicle
Despite difficulties for Missouri's vehicle manufacturing sector, durable goods manufacturers overall continue to report expanding economic conditions. I expect the state's telecommunications industry to experience much improved growth for 2006.
across bankers board economic february hiring home readings reported retail survey weakness
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.
among business growth offset reports services somewhat strong transport truck weaker
Strong growth among firms in business and professional services and truck transport offset somewhat weaker reports from manufacturers for March.
clear earlier economy energy expected gas growth natural overall pointing prices slower solid stronger
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.
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.
bad companies entirely expand expanding great hard heavy losses orders terms
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.
conditions detailed durable economic food goods producers reported softer
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.
america began costs economy elevated energy forced higher interest rates regional year
The Mid-America regional economy began 2005 like a lion, but higher interest rates and elevated energy costs forced the region's economy to end the year like a lamb.
concern reason
There's every reason to have some concern there.
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.
began conditions durable economy goods growth january job kansas note producers reported rest softer solid somewhat stronger year
The Kansas economy began the year on a somewhat softer note than the rest of the region. However, firms reported solid job growth for January with durable goods producers detailing much stronger conditions than non-durable goods firms in the state.
affecting asian beef borders both factor growth half higher industries industry interest kansas open partners pushed rates sector slow state strong trading
The construction industry and transportation sector in Kansas have pushed 2005 growth into the very strong range. However, higher interest rates will slow growth for both industries in the first half of 2006. 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.
areas clear economic ethanol greater region reliance
For example, greater reliance on ethanol by the U.S. will make many areas in the region clear economic winners.