OMAHA — A new survey suggests that the economy will slow down in rural parts of 10 Western and Plains states in the months ahead.
Creighton University economist Ernie Goss says weak crop and energy prices are hurting profits across the region.
The Rural Mainstreet Index dipped into negative territory at 49 in September from August’s 50. Any score below 50 suggests that factor will decline.
Farmers are delaying big purchases if they can because of the environment. The farm equipment sales index remained at 14.2 in September.
Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.
In Colorado, the index dipped to 48.8 from 51.5 in August. However the farmland and ranchland index, which in the 10-state region increased to 35.5 in September from 32.7 in August, jumped in Colorado to 47.7 from 38.4 in August.
Hiring prospects remained healthy in Colorado, despite declining to 60.1 in September from 65.5 the month before, compared with a drop to 54.3 from 63.3 in August for the region as a whole.
