Survey suggests slow growth in Midwest, Plains

News

October 21st, 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 grow, but at “an anemic pace.” The overall Rural Mainstreet index for the region improved to 52.9 in October from last month’s 52.2, 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 were helped by companies linked to agriculture that continue to experience healthy growth. Bankers in rural parts of Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming are surveyed.