Rural bankers’ confidence about the economy in the 10-state Midwest and Plains region is at its lowest level in nearly two decades.
A monthly Creighton University economic survey in the region in November found that high interest rates, deposit outflows and a slowing farm economy continue to be concerns in the rural banking community.
“(The) reading is the most negative outlook recorded since Creighton began the monthly survey in January 2006,” said university economist Ernie Goss, who oversees the Rural Mainstreet survey. “Approximately 57.7% of bankers expect economic conditions to worsen in the next six months.”
The survey’s business confidence index fell from 24.1 in October to a record low 21.2 in November.
The overall index for the survey dropped to 40.4, down from 44.4 in October. Any readings above 50 on the index that ranges from 0 to 100…
