The regional economy is improving slightly according to a new survey of nine Midwestern states.
Despite rising inflation, Creighton University Economist Dr. Ernie Goss doesn’t think many banks will close– but area banks are having difficulties.
Goss says a new survey of bankers shows the farm sector remains strong, but other areas are starting to suffer…
Three-fourths of those bankers surveyed were strongly opposed to bailouts being given to the Silicon Valley and Signature Banks, with two-thirds of them saying they’re opposed to ALL bank bailouts.
However, Goss thinks community banks like the ones we see in rural America are probably on their own…
Goss says losing Community Banks in Rural America would be painful for the farm communities they serve.
In South Dakota, Goss says the March 2023 Business Conditions Index declined to 47.8 from February’s 49.7.
According to US government data, South Dakota’s top three exported manufactured goods for 2022 were:
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Processed foods at $809.3 million
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Chemicals at $468.6 million
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Machinery at $226.6 million
Survey results for April will be released on May 1, 2023, the first business day of the month.
(News partner KELO AM radio contributed to this story.)
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