Growth continues in rural areas of 10 states, survey says.

Omaha, Nebraska (AP) – A new monthly survey of area bankers found that in rural lowlands and 10 western states, off-farm employment in most states remained below what ‘it was before. Nonetheless, the region’s economic growth continues. Pandemic level.

The economic index for the whole of the rural main street fell from 70.0 in June to 65.6, which is still strong in July. Scores above 50 indicate economic growth and scores below 50 indicate economic contraction.

The survey’s recruitment index fell from 71.7 in June to 67.6 in July. According to Arnie Goss, an economist at Creighton University who is overseeing the study, the Bureau of Labor Statistics showed that the non-farm payroll in the region was 55,000 less, or 1.3% less, than before. the start of the COVID-19 pandemic last year. . .. However, three states, Minnesota, Nebraska and South Dakota, reported non-farm wages above pre-pandemic levels.

James Brown, CEO of Hardin County Savings Bank in Eldora, Iowa, said:

Mr Goss said the region continues to benefit from increased exports, strong grain prices and still low interest rates.

Bankers were less optimistic about the economy for the next six months than last month, with the July confidence index dropping from 71.7 in June to 65.6.

Growth continues in rural areas of 10 states, survey says.

Source link Growth continues in rural areas of 10 states, survey says.

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