Bankers expect slow economic growth amid trade war
OMAHA, Neb. (AP) — Bankers in rural parts of 10 Plains and Western states expect slow growth in the months ahead, but the ongoing trade war between the U.S. and China is weighing on the economy.
The Rural Mainstreet survey’s overall index climbed into positive territory at 50.1 in September from August’s 46.5. Any score above 50 suggests a growing economy, while a score below 50 indicates a shrinking economy.
Creighton University economist Ernie Goss, who oversees the survey, says bankers are less confident because of the ongoing trade disputes and the lack of approval for a new North American trade agreement.
The confidence index remained low at 42.9 in September — up slightly from August’s 42.
Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.