Midwest, Plains bankers say economy improvingOMAHA, Neb. — A new survey of rural bank CEOs suggests economic conditions in 10 Midwest and Plains states are rebounding to 2007 levels.
OMAHA, Neb. — A new survey of rural bank CEOs suggests economic conditions in 10 Midwest and Plains states are rebounding to 2007 levels.
Creighton University economist Ernie Goss, who oversees the survey, says farmers are seeing greater profits, which are then used to bolster the business sector.
The overall index for the Rural Mainstreet economic survey in January reached 59.3 percent up from December’s 55.4 and last January’s 41.0. The index this month hit its highest level since June 2007.
The index ranges between 0 and 100. A score above 50 suggests the economy will expand over the next six months. A score below 50 would suggest the economy will contract.
Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming are surveyed.
Creighton University economic surveys