Bankers say farm income helping rural economy
March 21st, 2013 by Ric Hanson
OMAHA, Neb. (AP) — Bankers in 10 Midwest and Plains states expect the rural economy to continue growing in the months ahead because of the strength of farm income. The overall economic index on the March Rural Mainstreet survey remained at a healthy level of 56.9 even though it was down from February’s 58.2. Any score above 50 on the index, which ranges from 0 to 100, suggests growth in the months ahead. Scores below 50 suggest contraction.
Creighton University economist Ernie Goss oversees the report. He says the survey suggests farmland values will continue to grow and home sales are beginning to grow. The index is based on a survey of rural bankers in Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.