The rural economy in 10 Midwest and Great Plains states continues to grow but at “an anemic pace,” according to the latest monthly survey of bankers in the region.
The Rural Mainstreet index for the region improved from 52.2 last month to 52.9 this month, suggesting weak economic growth. Anytime the index, which ranges from 0 to 100, is above 50, it suggests the economy will grow.
This month’s results were helped by continued healthy growth among companies linked to agriculture, although the growth continues to be slow, said Creighton University economist Ernie Goss, who oversees the survey of bankers in rural parts of Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.
“Survey results over the past several months, similar to national surveys, indicate that the economy is growing, but at an anemic pace,” Goss said.