News

Some signs of improvement in rural economy

A new survey of rural bankers in eleven Midwest and Plains states suggests that, while the region’s economy remains weak, there are also some signs of improvement.

The rural economic index, contained in the monthly Rural Mainstreet survey, increased to 21-point-seven in April–up from 18-point-seven in March. And Creighton University economist Ernie Goss says he thinks the index has bottomed out. However, Goss also expects any recovery to be asmuch as six months out.

The survey's confidence index, which gauges expectations for the next six months, was at 46 percent in April compared to March's 36 percent.

The farmland price index improved to 41 percent in April from March'srecord low 33 percent. But that’s still well below the peak of 81 it set in January 2008.

States in the survey include Nebraska, Iowa, South Dakota, Illinois, Missouri, Minnesota, Colorado, Wyoming, Montana, North Dakota and Kansas.