Economy Better in Oklahoma than Most Think (From Norman Transcript)
Area Realtors and bankers have been telling us for months that the economy is not nearly as bad here as it is in other parts of the country. Now, farmers are telling us the same thing.
The Creighton University economic index which takes a regular look at conditions in the Midwest says the region experienced fewer problems in the housing market than the rest of the nation. There are fewer troubled loans and prices had not appreciated.
The index climbed to 54.3 in March after dipping to 49.5 in February. That's a significant gain since the January to February gain was just over one percentage point. Employment climbed
Any score above 50 indicates an expanding economy is expected over the next three to six months.
Farm prices were helped by the increase in the ethanol industry. High crop prices have pushed the survey's inflation index to its highest level ever due to increases in raw material costs.
Supply managers weren't so optimistic. Their confidence index rose slightly. Consumers don't seem to have noticed any dip in fortunes. The state's sales tax increased about 10 percent between Jan. 16 and Feb. 15.
Norman's sales tax increased by more than $390,000 this month over the same period in 2007, the state tax commission reports. The city received $3,677,589 compared to $3,286,355.