February’s Rural Mainstreet Index is below growth neutral for the sixth straight month. Creighton University Economist Ernie Goss conducts the survey each month with bank CEO’s in rural areas and says they are not optimistic about the immediate future.
Goss says to add to the problems, the Federal Reserve will likely raise interest rates next month.
Goss says there is also a slowdown in manufacturing and there has been a cut in sales abroad. Goss says rural areas are also dependent on energy and that isn’t doing well either.