Fri March 18, 2011

Regional Economic Survey Suggests Growth

A new survey of bankers suggests the economy in rural areas of 10 mid-west and plains states including Colorado – will continue growing in the next few months.

Creighton University economics professor Ernie Goss says growth in the overall economy is helping, and that farming remains strong in the region. The overall rural Main Street Economic Index increased to 56.7 in March from 53.3 in February.

“The index has been trending upwards pointing to growth in the months ahead, of course, what that means is we’re likely to see increasing job opportunities – although those aren’t quite as strong as we’d like to see,” says Goss.

Anytime the index – which ranges from 0 to 100 – is over 50, it suggests the economy will expand over the next six months.