The new monthly survey of bankers points to a quickly recovering economy in rural parts of ten Plains and Western states including South Dakota, Nebraska and Iowa. The overall index of the Rural Mainstreet Survey shot up to 71.9 in March from the 53.8 score in February. The March reading score of 71.9 in the highest reading since the index began in 2006.
Creighton University economist Ernie Goss credits sharp gains in grain prices, federal farm support and the Federal reserve record-low interest rates as reasons for the impressive leap in the rating.
