St. Louis – An index that measures business conditions in the Midwest has hit its highest level since May 2006.
The Business Conditions Index for the Mid-America region hit 64.3 in March, up from 61 in February - the fourth increase in as many months.
Creighton University economist Ernie Goss calculates the index from a survey of supply managers and business leaders in nine states, including Missouri and Kansas.
The index ranges from zero to 100, and any number above 50 suggests economic growth in the next three to six months.
Goss says low interest rates, a stabilizing job market and declines in U.S. unemployment are behind economic optimism of supply managers in the Mid-America