Survey says economy remains weak in rural parts of 10 states

Published 9:30 am Friday, August 19, 2016

OMAHA, Neb. — A monthly survey of bankers suggests the economy remains weak in rural parts of 10 Plains and Western states even though it improved slightly in the past month.

The overall rural economic index remained in negative territory at 41.1 in August even though it was higher than July’s 39.8 reading.

Survey officials say any score below 50 on any of the survey’s indexes suggests a decline in that area.

Email newsletter signup

Creighton University economist Ernie Goss oversees the survey. He says the declines in cattle, grain and farm prices over the past year are weighing down the rural economy because farm income is down.

Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.