Survey suggests slow growth in Midwest, Plains

Ag/Outdoor, News

September 16th, 2011 by Ric Hanson

OMAHA, Neb. (AP) – A new monthly survey of bankers suggests the economy in rural areas of 10 Midwest and Plains states continues to slow, but the region is helped by¬† strong farm income. The overall Rural Mainstreet index for the region improved to 52.2 in September from last month’s 49.3, suggesting weak economic growth. Anytime that index, which ranges from 0 to 100, is above 50, it suggests the economy will grow. Creighton University economist Ernie Goss, who oversees the survey, says this month’s results don’t suggest a recession but the numbers have deteriorated. Bankers in rural parts of Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming are surveyed.