A monthly survey of bankers suggests a weakening economy lies ahead for rural parts of 10 Midwestern and Western states.
A monthly economic survey index for nine Midwestern and Plains has dropped again. A survey report issued early Monday says the overall Mid-America Business Conditions Index fell in October to 51.8 from 54.3 in September. The figure was from 57.2 in August.
The economy in rural areas of 10 Midwest and Plains states remains strong as healthy rainfall this spring helps crops get established. The overall economic index for the region grew to 60.5 in June from May’s 58.8. That suggests growth in the months ahead.
A big jump in new orders suggests the economy is improving in nine Midwest and Plains states, but it’s too soon to say whether that trend will continue, according to a monthly survey released Monday.