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.