A new monthly survey of bankers points to a quickly recovering economy in rural parts of 10 Plains and Western states as the survey's individual indicators soared and the overall index rocketed to its highest reading since it began in 2006.
The overall index of the Rural Mainstreet Survey shot up more than 18 points to 71.9 in March from February's 53.8. Any score above 50 suggests a growing economy. Creighton University economist Ernie Goss credits in part sharp gains in grain prices, federal farm support and the Federal Reserve’s record-low interest rates. Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.
