OMAHA, N.E.(KELO)- Recession has arrived in farm county.
Creighton University’s Monthly Rural Mainstreet Index show the regional economy in negative territory for the 12th straight month. Economist Dr. Ernie Goss says bankers in the survey see their farm clients dealing with tough conditions.
Goss says all eyes are now on next month’s jobless rate.
Slower exports, low farm commodity prices and high interest rates are the main factors slowing the regional economy.
The Rural Mainstreet Index includes a survery of smaller community banks stretching from Minnesota and the Dakotas to Arkansas.