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Missourinet

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You are here: Home / Archives for Dr. Ernie Goss

Economist predicts 2021 to be a good year for Missouri agriculture

November 27, 2020 By Missourinet Contributor

Economist Ernie Goss says this year’s increase in farm income is leading to an increase in farmland prices.

“Farmers are out there and they’re feeling better about the economy, but unfortunately we’re not seeing it in the businesses on what we call ‘Rural Mainstreet,’” Goss says.

Dr. Ernie Goss

Every month, Goss surveys rural bankers for a Rural Mainstreet Index. His latest survey indicates the economy in Missouri and nine other states in the Great Plains and Mountain West will dip in the current 4th quarter.

“It looks like we’re hitting a hiccup in the global economy and a hiccup in the US economy and, for that matter, in the regional economy,” Goss says. “Growth is just slowing down and potentially moving what was a V shaped recovery into a W shaped recovery — in other words, back down into the recession.”

But Goss, an economics professor at Creighton University in Omaha, says commodity prices have been climbing “fairly dramatically” this fall, leading to optimism in the ag sector. About a third of U.S. farm income this year will have come, though, from the Trump Administration’s payments to make up for trade losses and Goss says those are likely to end with the Trump presidency.

“On the flip side, we’re likely to see the Biden Administration be a little more positive on trade,” Goss says. “…You’ve got some positives and some negatives. I expect 2021 – at least as we sit here now — to be pretty good for the agricultural sector given the expansion on trade.”

Rising global oil prices are generally good news for Missouri’s ethanol industry as well, according to Goss.

By Radio Iowa’s O.Kay Henderson

Filed Under: Agriculture, Business, News, Politics / Govt Tagged With: Creighton University, Dr. Ernie Goss, Joe Biden, President Donald Trump

Survey shows economy improving in Missouri and Midwest

September 10, 2020 By Missourinet Contributor

The economic picture is brightening for both Missouri and the Midwest. Creighton University’s August survey of supply managers and business leaders across the nine-state region finds the financial situation slowly improving.

Dr. Ernie Goss

Economist Ernie Goss of Creighton University in Omaha, Nebraska says the survey’s leading economic indicator for the region climbed.

“The index from that survey rose to its highest level in two years. In fact, it was well above growth neutral at 60.0 and that’s up from July’s number of 57.4,” Goss says, “so it was a good reading.”

Goss says the survey found manufacturing is steadily picking up, but still has not fully recovered from the downturn caused by the coronavirus pandemic.

“Even despite the increases that we’ve seen over the last couple of months, we’re still below levels of production and overall economic activity in the regional manufacturing sector,” Goss says. “We’re still not back to pre-COVID levels but we’re moving in the right direction.”

The unemployment rate for the nine-state region hit a high of 9.7% in May and has fallen in the new August survey to 5.8%, but Goss says there’s still trouble with hiring.

“Four out of five of the manufacturers reported finding and hiring qualified workers restrains growth in the region in their companies,” Goss says. “Even despite the higher levels of unemployment, we’re still seeing companies having difficulties finding and hiring those qualified workers to fill open positions.”

A report from the U.S. Bureau Labor Statistics says the region has lost about one-million jobs since the onset of COVID-19, for a 7.3% decline.

By Matt Kelley of Radio Iowa

Filed Under: Business, Health / Medicine, News Tagged With: coronavirus, Creighton University, Dr. Ernie Goss, U.S. Bureau Labor Statistics



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