A survey of rural bankers says the economic outlook for rural areas is improving, reports Radio Iowa. Creighton University economics professor Ernie Goss performed the survey — which is called the Rural Mainstreet Index — by talking to bankers in small communities in 10 states, Matt Kelley reports. Bankers in Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.
This is the first sign of improvement since August, and that's likely due to higher grain prices for farmers, Goss told Kelley. Goss' earlier survey of purchasing managers showed the opposite, that regional growth was slowing at a rapid pace. He told Kelley the new survey was less biased toward urban areas, and thus it is a better indicator of the rural economic outlook.
"We will see some bleeding of the economic downturn into rural America, but I think with very good farm income, with a farm bill that's moving through Congress and will ultimately be signed by the president and will be pretty good, I think the farm economy's going to hold up better than the urban areas," Goss said. (Read more)
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