Rural economy surges to close out 2012

Posted on December 30, 2012

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The economy in rural America reached its highest point since the beginning of the recession in 2007, in time to close out a tough year for ranchers, according to a monthly survey of rural and small-town bankers.

The Rural Mainstreet Index (RMI), as its called, surgesd to 60.6–the highest point since June 2007. The index ranges between 0 and 100 with 50 representing growth neutrality.

According to Ernie Goss–the Jack A. MacAllister chair in regional economics ata Creighton University in Omaha, NE, who calculates the index each month–strong agriculture commodity prices coupled with lower energy prices helped December business activity. This is the fourth straight month to show improved economic growth.

The full story at BEEF Magazine online.

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Posted in: Economy