Economies are continuing to weaken among ten Western and High Plains states with large rural populations,reports The Columbia Missourian. The info comes from a monthly survey of bankers. Those surveyed hailed from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.
The financial workers determined that the already weak rural economic outlook isn’t improving. This month, the Rural Mainstreet Index fell to just below 40, down from 44 in June.
Creighton University economist Ernie Goss says the overall index has remained below neutral for 11 straight months. In the past year, farm prices are down nine percent and livestock prices are down 16 percent.