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Drought drags down Midwest economy

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OMAHA, Neb. (AP) -- The ongoing drought, combined with global economic turmoil, is hurting business in nine Midwest and Plains states and boosting worries about the possibility of another recession, according to a monthly report released Wednesday.

The region's overall economic index for July plunged below growth neutral for the first time since 2008. The index hit 48.7, compared with 57.2 in June.

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