OMAHA, Neb. (AP) — A new survey of bankers in rural parts of 10 Plains and Western states shows the vast majority expect the coronavirus outbreak to push their local areas into recession.
The overall index for the region plummeted to 12.1 in April from March’s already anemic 35.5.
It was the lowest index recorded since the survey began in January 2006. Any score below 50 suggests a shrinking economy.
Creighton University economist Ernie Goss said more than nine in 10 bankers surveyed expect the measures being taken to fight the coronavirus to lead to a recession.
Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.