Farm income bolsters economy in plains, Midwest

An economist’s survey of rural bankers in 10 plains and Midwestern states finds that healthy farm income is pushing the regional economy further toward recovery. Creighton University economist Ernie Goss oversees the survey. The overall index for his “Rural Mainstreet” economic survey in December reached 55.4, its highest level since January 2008. The November figure was 53.3.

The index, he said, ranges between 0 and 100. A score below 50 suggests the economy will contract in the next few months; above 50 suggests the economy will expand. Goss said businesses heavily dependent on the farm economy are benefiting from farmers’ strong income sources. Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North and South Dakota and Wyoming are surveyed.

An economist’s survey of rural bankers in 10 plains and Midwestern states finds that healthy farm income is pushing the regional economy further toward recovery. Creighton University economist Ernie Goss oversees the survey. The overall index for his “Rural Mainstreet” economic survey in December reached 55.4, its highest level since January 2008. The November figure was 53.3.

The index, he said, ranges between 0 and 100. A score below 50 suggests the economy will contract in the next few months; above 50 suggests the economy will expand. Goss said businesses heavily dependent on the farm economy are benefiting from farmers’ strong income sources. Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North and South Dakota and Wyoming are surveyed.