Economist: Drop in overall index of June rural Midwest banker survey indicates slow growth


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OMAHA, Nebraska — The overall index for a monthly economic survey of bankers in 10 Midwestern and Plains states has fallen from May but remains in positive territory, suggesting slower growth in the near future.

The Rural Mainstreet Index fell to 53.6 in June from 55.6 in May.

The survey indexes range from 0 to 100. Any score above 50 suggests growth in the months ahead.

Creighton University economist Ernie Goss oversees the survey. He says June's results indicate that areas highly dependent on agriculture and energy are experiencing slower growth than a year ago.

Almost half of bankers surveyed reported that higher beef and pork prices have increased overall economic activity in their area.

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

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