A new survey of bankers suggests the economy remains weak in rural parts of 10 Plains and Western states.
The overall index for the region remained negative at 44.1 in July even though it improved from June’s 37.9. Any score below 50 suggests a shrinking economy, while a score above 50 suggests a growing economy, survey organizers say. Creighton University economist Ernie Goss says weak agriculture crop prices, retail sales and layoffs have hurt the bankers' economic confidence.
Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.