Figures from a monthly survey of supply managers in nine Midwest and Plains states suggest slow or little economic growth ahead.
The Mid-American Business Conditions index fell to 47.6 last month, down from 50.1 in June. This is the first time since January the reading has fallen below growth neutral 50.0, the report said. More than one-third of those surveyed named global economic conditions as the greatest factor weighing on company sales and business conditions over the past year.
Economic optimism, as reflected by the July business confidence index, sank to 47.0 from June’s 51.9.
“Global economic uncertainty, including June’s Brexit vote, was a significant economic concern for a large share of supply managers in our survey,” said Creighton University economist Ernie Goss, who oversees the survey.
More than 20 percent of those surveyed named downturns in the farm economy as the largest factor slowing company sales and growth.
Read more: Jefferson City News Tribune