kunc-header-1440x90.png
Our Story Happens Here
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
News
Global demand for food and fuel is rising, and competition for resources has widespread ramifications. We all eat, so we all have a stake in how our food is produced. Our goal is to provide in-depth and unbiased reporting on things like climate change, food safety, biofuel production, animal welfare, water quality and sustainability.

Survey: Region's Bankers Losing Confidence In Farm Economy

farm_colorado_20060716.jpg
Mojo Yugen
/
CC BY-SA 2.0
Wheat fields in the Golden Spread region of southeast Colorado.

A monthly survey of rural bankers in parts of 10 Plains and Western states shows they're rapidly losing confidence in the region's farm economy.

The Rural Mainstreet survey for May, released Thursday, shows the survey's overall index dropping from 50 in April to 48.5 this month. Any score above 50 suggests a growing economy, while a score below 50 indicates a shrinking economy.

Creighton University economist Ernie Goss, who oversees the survey, blames trade tensions and tariffs, saying they're contributing to losses suffered by grain farmers — although livestock producers are faring better. Still, Goss says, bankers believe "the negatives far outweighed the positives."

The survey's confidence index, which gauges bankers' expectations for the economy six months out, plummeted from 50 to 38.2 — its lowest level in almost two years.

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

Copyright 2019 Associated Press. All rights reserved.

Related Content