What is in this article?:
- Rural Economy Grows; Farm Equipment Sales Decline
- State-by-state outlook
While growth for the rural mainstreet economy remains healthy, it slowed a bit in August, according to a monthly survey of bank CEOs in a 10-state area.
Each month, community bank presidents and CEOs in nonurban, agriculturally and energy-dependent portions of a 10-state area are surveyed regarding current economic conditions in their communities and their projected economic outlooks six months down the road. Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming are included:
Colorado: For the 11th straight month, RMI remained above 50.0, but declined to a still-healthy 63.4 from July’s 70.5. FPI fell to 70.3 from July’s 75.5. Colorado’s new hiring index (NHI) for August advanced to 75.3 from 73.0.
Illinois: RMI declined to growth neutral 50.0 from 57.6 in July, the 11th straight month at or above growth neutral. FPI expanded to 51.2 from July’s 49.1, and NHI dipped to 52.4 from July’s 54.3.
Iowa: RMI sank to 56.9 from 62.3 in July, while FPI slipped to 53.2 from July’s 54.6, and NHI declined to 52.4 from July’s 58.0.
Kansas: RMI decreased to 56.4 from 59.2 in July, but FPI rose to 48.2 from July’s 46.6. NHI expanded to 53.7 from 52.7 in July.
Minnesota: RMI climbed to 54.8 from 53.4 in July, while FPI fell to 40.7 from 51.3 in July. NHI declined to 48.7 from July’s 55.8.
Missouri: RMI declined to 61.4 from July’s regional high of 81.2. FPI remained vigorous at 85.2, up from July’s 78.9, and NHI dipped to 78.4 from 84.2.
Nebraska: RMI has been above growth neutral for seven straight months, but declined to 56.2 from July’s 58.0. August FPI slipped to 47.7 from July’s 48.5, and NHI was down slightly 53.4 from July’s 53.9.
North Dakota: RMI fell to 58.9 from 78.4 in July, and FPI was down to 73.2 from 82.4. NHI fell to 70.4 from July’s 76.5.
South Dakota: RMI slipped to 56.8 from July’s 59.9, while FPI increased to 51.2 from July’s 50.8. NHI advanced to 55.7 from July’s 55.5.
Wyoming: RMI expanded to 53.0 from 52.6 in July, while FPI was up to 41.9 from July’s 40.8. NHI increased to 49.6 from July’s 49.4.
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