Creighton University’s January monthly survey of supply managers in 9 Mid-west and Plains states indicates the regional economy continues to grow…but not much.

Survey head and economist Ernie Goss says the survey’s overall index rose above the growth-neutral point of 50 for just the second time in the past 5 months to just a tepid 53.2. Goss says it continues a pattern reflecting a sluggish economy but not a recession.

There are recessions overseas, and Goss says that hurt exports from the region, with the new export orders index falling almost 5 points to 45.3. Manufacturing, in turn, slowed down…keeping the employment index just a fraction under 50.

The prices-paid index, which tracks inflation at the wholesale level through the cost of raw materials and supplies, jumped over 8 points to 71.8…which Goss says is enough to catch his attention, but not worry him too much yet.

The supply managers don’t seem that worried, either. They predicted their input prices to go up about 6% for the year…roughly what they said last July…and the confidence index…how they see the regional economy 6 month from now rose nearly 7 points to 56.6.

The Creighton survey offers numbers for each state as well as for the 9-state Mid-America region.

Nebraska’s overall index got above 50 for just the second time in 5 months, but just at 50.5 and with employment at 46.4. Goss puts most of the blame downturns for durable goods producers with the reduced exports.

South Dakota’s index was on the growth side for the second straight month…rising 1.6 points to 53.5 while employment came in at a positive 58.4. Goss predicts that growth will continue to be positive, but tepid, for the first half of the year.