That's according to the latest installment of Creighton's Mid-America Business Conditions Index, the survey of supply managers across a nine-state region stretching from North Dakota to Arkansas.

Creighton economist Ernie Goss reiterated that the stronger U.S. dollar relative to other global currencies puts products made here at a competitive disadvantage when it comes to price.

Combine that with plummeting prices for oil and farm products, both of which are bastions of manufacturing in various states throughout the survey region, and the industry outlook darkens.

"Almost one in five, or 18.5 percent, of (manufacturing) firms expect layoffs in the next six months. This compares to 14.5 percent in January, when we asked this same question," Goss said.