A monthly survey of bankers suggests the economy will remain weak in rural parts of 10 Midwestern and Western states because of low grain and oil prices. The region’s overall economic index improved slightly to 50.9 in January from December’s neutral score of 50.
Bankers in 10 Midwest and Plains states expect the rural economy to continue growing in the months ahead because of the strength of farm income.
A new survey of rural bankers suggests that growth in farmland prices, cash rents and farm equipment sales remain strong despite the continuing threat of drought in some Midwestern and northern Plains states.
The outlook for rural areas of 10 Midwest and Plains states remains positive thanks to the improving economy, according to a new survey of bankers released Thursday.