A recent survey of Kansas and eight other Midwestern states show an improvement in business conditions. The overall Mid-America Business Conditions Index rose slightly in May to 60.5, up modestly from 60.4 the previous month. To some, this may seem like a modest change that does not deserve a big applause from Kansas citizens. However, this index marks the highest overall reading in over three years, which could mean a sunnier economic forecast for workers in the state.
A University-based economist oversees the production of the report. The report gets its data from survey results given by supply managers, and the composite information is indexed from zero to 100. Any number about 50 suggests growth. According to data supply managers provided in May, the business confidence index was found to be 62.5. The employment index, at 60.0, is higher than this time last year. Though there is some promising economic rebounding, regional manufacturing employment is 10 percent lower than pre-recession levels.
This mixed bag of regional economic numbers seems to show that there may be some light at the end of the recession tunnel. However, economic recovery is not happening as fast as many Kansans would like, even if there is positive change. For those who are still struggling with debt and may be without a job despite the recent forecast, there may not be time to wait for the economy to rebound.
Anyone struggling without a job and threatened with foreclosure may want to consider their legal options, including filing for bankruptcy. Financial challenges need not overwhelm and become an insurmountable weight in one’s life; there are options available to eliminate debt, stop repossession and help a person regain control of their financial life. Like the recovering Kansas economy, through bankruptcy, the outlook for an individual can be bright.
Source: Miami Herald, “Midwest economic index inches up again,” June 2, 2014