Slower growth likely in rural areas of 10 states
January 16th, 2014 by Ric Hanson
OMAHA, Neb. (AP) — Economic growth will likely slow in rural parts of 10 Midwest and Western states in the months ahead. A monthly survey of rural bankers released Thursday shows the region’s overall economic index falling to 50.8 in January from December’s 56.1. The index ranges from 0 to 100, and any score above 50 suggests growth in that factor in the months ahead.
Creighton University economist Ernie Goss says declining farm prices are hurting the economy. And most bankers say they expect the economy to be hurt by the Environmental Protection Agency’s decision to reduce the amount of ethanol that must be blended into gasoline.
The report covers rural parts of Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.