Energy is driving Oklahoma’s economic expansion

A survey of regional supply managers showed slightly less optimism for Oklahoma’s economic outlook, although economists said the results reflect an anticipation of continued growth.

The Mid-America Business Conditions Index survey results are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests growth in that factor. A score below that suggests decline.

Oklahoma’s overall index slipped to 60.8 last month from 63.0 in October.

Creighton University economist Ernie Goss oversees the survey.

“Expansions among energy-linked firms and manufacturing companies tied to energy are driving the state’s economy forward at a current brisk pace,” Goss said.

In Oklahoma, the index components were new orders at 70.0, production or sales at 65.9, delivery lead time at 51.4, inventories at 58.7 and employment at 57.8.

The overall index, which includes eight other Midwest and Plains states from North Dakota to Arkansas, dropped over the past month but still suggests that regional economic conditions continue to improve.

The overall index slipped to 57.2 in November from 58.8 in October. The September figure was 58.2 in September.

Goss said the manufacturing sector has reported consistent growth over the past several months. The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.