Midwest and North Dakota Economies Continue to Struggle, Rural Mainstreet Index Hits Lowest Level Since June 2020
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The economic outlook in the Midwest and North Dakota continues to slump, according to recent surveys. The Creighton University survey of economic conditions in the 10-state Midwest and Plains region revealed a fifth consecutive month of decline. The overall index for the Rural Mainstreet survey in January was 48.1, up from 41.7 in December but still below the growth neutral level. The survey highlighted higher interest rates, weaker agriculture commodity prices, and a credit squeeze as major factors negatively impacting Rural Mainstreet businesses and farmers. Rural bankers expressed a 'very pessimistic' outlook on economic growth in the next six months. However, North Dakota's outlook was somewhat brighter, with the state's index for January climbing to 64.3 from 52.3 in December. The sta...
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