The Mainstreet Economy Survey for July indicates that the economies of the non-urban, agriculturally dependent, portions of the eight-state area expanded from June. As in past months, retail sales remained weak across non-metro areas in the region that includes Colorado, Illinois, Iowa, Kansas, Missouri, Nebraska, South Dakota and Wyoming.
Each month community bank presidents and CEOs are surveyed regarding current economic conditions in their area and their projected economic outlook six months down the road.
SURVEY RESULTS AT A GLANCE:
Economies of the non-urban, agriculturally dependent portions of the eight-state area expanded.
Hiring in rural areas was strong for the month with most states showing gains.
More than 90 percent of the bankers expect the Federal Reserve to raise rates at its next meeting.
43 percent of bankers believe recent Fed rate hikes have hurt their area economies.
One-fifth of the bank CEOs expect at least two more Fed rate hikes in 2006.
For more details on July survey results go to: