A survey of bankers in 10 Midwest and Plains states suggests the regional economy is sputtering.
The Rural Mainstreet Index dropped below growth-neutral in the February survey, hitting 48.4, compared with 50.8 in January and 56.1 in December.
The survey indexes range from 0 to 100, with 50 representing growth-neutral. A score above 50 suggests growth in that factor in the months ahead.
Creighton University economist Ernie Goss oversees the survey, and he said the overall index’s decline shows that “areas of the nation highly dependent on agriculture and energy are losing economic steam.”
Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.