One of the great challenges in predicting the performance of the rural economy is the fact that it’s configured so differently from the rest of the economy in the United States. The urban economy is almost 10 times the size of its rural counterpart. In addition, many key drivers of rural gross-domestic-product sectors like agriculture, manufacturing, extraction and utilities are small contributors to the economic output in urban areas. And official sources of information about rural economic performance are much scarcer than for the U.S. economy as a whole.
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Tom Halverson
Tom Halverson is the president and Chief Executive Officer of CoBank.Â
CoBank is a $158 billion cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. It’s a member of the Farm Credit System. Visit www.cobank.com for more information.
