What is in this article?:
- Rural Economy Surges To Close Out 2012
- The outlook by state
The heartland’s economy has surged to its highest point since the 2007 recession.
The outlook by state
Each month, community bank presidents and CEOs in approximately 200 rural communities with an average population of 1,300 in 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 a third straight month, Colorado’s RMI moved above 50.0, climbing to 55.9 in December from November’s 51.8. FPI and ranchland-price index (RPI) increased to 70.7 from November’s 63.1. Colorado’s NHI for December was 44.9, up from 38.9 in November.
Illinois: For a third consecutive month, the RMI for Illinois moved above growth neutral, but dipped to 65.2 from November’s 65.9. FPI was higher (84.2), up from November’s 79.5. NHI increased to 53.9 from 49.8 for November.
Iowa: The December RMI for Iowa advanced to 63.6 from 61.3 in November. FPI expanded to 84.2 from November’s 80.1, while NHI increased to 53.9 from November’s 50.2.
Kansas: December RMI climbed to 67.7 from November’s 63.1, while FPI rose to 82.6 from November’s 82.3. NHI increased to 52.8 from 51.7 in November. Dale Bradley, CEO of the Citizens State Bank in Miltonvale, says that weather and economy are the key components for area farmers in 2013.
Minnesota: RMI rose to 69.6 from November’s 63.0, while FPI rose to 87.7 from 84.6, and NHI to 56.2 from 53.2. Pete Haddeland, CEO of First National Bank in Mahnomen, reports, “Very mild winter here, but very little snow. We have seen little or no effects of pending fiscal cliff.”
Missouri: December RMI climbed to 58.7 from 55.5 in November, while FPI increased to 72.2 from 56.7, and NHI advanced to 45.9 from 34.6.
Nebraska: For a third consecutive month, RMI was above growth neutral, though December RMI dipped to 57.4 from November’s 57.7. FPI slipped to 84.6 from 86.2, while NHI increased to 54.2 from November’s 51.3.
North Dakota: December RMI advanced to a regional high of 88.3, up from 86.7 in November, but FPI declined to 84.5 from November’s 89.5, and NHI fell to 84.9 from November’s 88.3.
South Dakota: RMI increased to 61.3 from 57.7 in November, while FPI decreased to 81.6 from 85.6, and NHI expanded to 52.2 from 48.0 in November.
Wyoming: December RMI declined to 59.1 from 60.6 in November, while FPI and RPI expanded to 80.6 from November’s 79.2. NHI climbed above growth neutral with a December reading of 51.5, up from 49.6 in November.