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Survey: December Gains Are Modest In Rural Economy

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Dec 20, 2007 5:33 pm US/Central

Survey: December Gains Are Modest In Rural Economy

OMAHA, Neb. (AP) ― A survey of rural bankers in nine Midwestern and Plains states indicates economic activity is holding its own or seeing modest gains.
  
The overall economic index for the region advanced to 54.3 in December from 54.1 in November and 52.1 in October. Creighton University economist Ernie Goss says a reading of 50 is growth neutral, so December's index indicates positive but subdued growth.
  
The farm equipment sales index soared to a record 65.9 from November's healthy 60.1.
  
December's farmland price index expanded to 77.3 from November's vigorous 68.8 and October's 65.4.
  
Dale Torpey is president of Federation Bank in Washington, Iowa. He says several land sales in his area recently have brought in $7,975 per acre.

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