Advertisement

Rural bankers survey index remains low in face of outbreak

Rural bankers survey index remains low in face of outbreak

Created: May 21, 2020 04:27 PM

OMAHA, Neb. (AP) - A new survey of bankers in rural parts of 10 Plains and Midwestern states inched upward in May from April's record low, but still remained profoundly low as efforts to stop the spread of COVID-19 wreaked havoc on the rural economy.

Advertisement

The overall index for the region rose slightly to 12.5 from April's record low of 12.1. Any score below 50 suggests a shrinking economy.

Creighton University economist Ernie Goss says nearly three of every four bankers surveyed reported restructuring farm loans to deal with weak farm income.

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

Copyright 2020 The Associated Press. All rights reserved.

Advertisement
Advertisement

Kayaker drowns in Aitkin County

Duluth councilors to consider two contracts for Lakewalk repairs

Klobuchar and Safe Haven discuss funding efforts to support domestic violence victims

Bayfront Blues Fest canceled due to COVID-19

Grand Rapids Tall Timber Days canceled due to COVID-19

No to Duluth Sidewalk Days, but yes to drive-in movies

Advertisement