Friday, June 22, 2012

Midwest bankers survey: International economic situation dampening growth in region

A monthly survey of bankers has indicated a slowing of economic growth in rural areas of 10 Midwestern and Western states, according to a Bloomberg News report. The reason: The problems in Europe and elsewhere, according to a report released Thursday. "International economic problems are affecting us here," said Dale Bradley, CEO of Citizens State Bank in Miltonvale, Kan. The survey covers rural areas of Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming, most of the Great Plains and the Corn Belt.

Creighton University economist Ernie Goss oversees the survey. He said the results suggest that areas dependent on agriculture and energy will generally continue growing, but more slowly. The overall index on the monthly survey of bankers declined to 56.7 in June, from May's 58.5. That's the lowest level for the index in 2012, but any score above 50 still suggests growth in the months ahead. 

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