YANKTON, S.D. (WNAX) — While the economy in the nine-state Mid-America region continues to show growth, there may be some problems this year.
Creighton University economics professor Ernie Goss oversees a monthly survey of business managers in the region, which includes South Dakota. He said supply chain issues, labor shortages, and inflation “will continue to be the chief economic impediments in the first half of 2022.”
Goss added he anticipates a rise in interest rates, though he said long-term interest rates won’t feel the same impact, at least not right away.
“Long-term interest rates, including mortgage rates, will increase only slightly in the first half of 2022,” Goss estimated. “Those will remain very competitive.”
(Jerry Oster, WNAX, contributed this report.)
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