MITCHELL, S.D. (MITCHELLNOW) South Dakota’s sales tax collections are sluggish and need to grow by 7.3% every month for the rest of the fiscal year to make budgetary projections. Now the MidAmerica Manufacturing Index from Creighton University has more bad news.
South Dakota lost 2000 manufacturing jobs in the last month, making it the fourth of five months with a manufacturing job loss. Farm and personal income are down with inflation and interest rates rising again.
Creignton University economist, Dr. Ernie Goss, expects the Federal Reserve to leave interest rates where they are in the face of rising inflation.