Rural Economic Index Soars To Double March '09 Mark
March 18, 2010, 6:21 PM
OMAHA, NE -
A new survey of rural bankers in 11 Midwest and Plains states shows continued weakness in the agriculture industry, but also signs of improvement.
The overall index for the Rural Mainstreet economic report released late Thursday rose to 47.4 in March from February's 36.6. That's more than double last March's reading of 18.7.
The index ranges between 0 and 100. A score below 50 suggests the economy will contract in the next few months; above 50 indicates the economy will expand.
The index has remained below 50 for 25 consecutive months.
Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.
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