OMAHA, Neb. (AP) - A survey of bankers suggests the rural economy is still faltering and that there is little confidence that conditions will be better in six months.
The Rural Mainstreet Index, compiled from a survey of bank CEOs in 11 Midwestern and Plains states, hit its fourth record low in a row.
The November figure of 22.1 follows record lows of 34.4 in October, 38.5 in September and 38.9 in August.
A year ago, the index was 54.1, well above growth-neutral figure of 50.
The confidence index hit 13.0 in November, less than half the dour outlook suggested by a figure of 27.2 in October.
Surveys were sent to rural bank CEOs in Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, South Dakota and Wyoming.
Posted in Local on Thursday, November 20, 2008 6:00 pm Updated: 2:18 pm.
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