Economic Index Jumps For Midwest, Western States
OMAHA, Neb. (AP) — An index of economic conditions in 10 Midwest and Western states jumped this month after three months of drought-induced doldrums.
The Rural Mainstreet survey of rural bankers rose to 56.6 for October from 48.3 in September. It was the first time since June that the index rose above growth neutral 50.
Survey organizers say any score above 50 on the 100-point scale suggests the economy will grow in the months ahead.
Creighton University economist Ernie Goss oversees the survey, and he says the effects of the drought are being more than offset by high incomes from high agriculture and energy prices.
The survey covers Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.