(KIWA Staff Photo)
Omaha, Nebraska (RI) — A monthly survey of rural bank CEOs in the Midwest finds nearly 58% see stable or modest growth in small businesses in their area.
Creighton University economist Ernie Goss says that and other survey responses have pushed the Rural Mainstreet Index to its highest level in three years.
Goss says survey results indicate there’s been a recent jump in hiring in rural Iowa and a nearly 5% increase in exports of agricultural goods and livestock from Iowa.
Iowa’s rural economy is more dependent on ag equipment sales than other states in the region, according to Goss, and he says that is another restraint on Iowa’s economy.
Every month, Goss surveys bankers in 10 states who serve customers in communities with a population below 1,300 to produce an overall estimate of the economy. Iowa’s index for June is up eight points from May.
