Bankers: Trade War Having Negative Effect on Rural Economies
OMAHA, Neb. (AP) — More bankers surveyed in parts of 10 Plains and Western states say President Donald Trump's trade skirmishes are having a negative effect on their local economies.
The Rural Mainstreet survey released Thursday shows the survey's overall index falling from 53.2 in June to 50.2 this month. Any score above 50 suggests a growing economy, while a score below 50 indicates a shrinking economy.
Creighton University economist Ernie Goss, who oversees the survey, says higher agricultural commodity prices and rebuilding from recent floods helped prop up the region's economy last month. But he added that nearly 9 of 10 bankers surveyed noted the tariffs' negative impact on the economy. That's up from 8 in 10 who said the same thing in September.
Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.