Bankers say economy improving in rural parts of 10 states

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OMAHA, Neb. (AP) – The economy is improving in rural parts of 10 Plains and Western states, but the region continues to lag behind where it was before the coronavirus pandemic began, according to a new monthly survey of bankers.

The overall index for the region improved to 51.6 in December from November’s 46.8. Any score above 50 suggests a growing economy while a score below 50 suggests a shrinking economy.

Creighton University economist Ernie Goss, who oversees the survey, said the region still has about 95,000 fewer jobs than it did before the pandemic began, and it will take many months of growth to erase all the job losses. The hiring index slipped to a neutral 50 score in December from November’s positive reading of 53.2.

But the bankers are confident the economy will improve over the next six months because crop prices, federal farm aid and exports have all increased recently, Goss said. The confidence index jumped to 62.9 in December from November’s 50.

Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.

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