The Creighton University survey of bank CEOs in a 10-state region continues to produce readings pointing to a slowdown in the rural economy.
For the 11th straight month, the Rural Mainstreet Index came in under growth neutral for July at 41.3, the loest reading since Nov. 2023.
Economist Ernie Goss says weak agriculture commodity prices, sinking agriculture equipment sales and declining farm exports continue to place downward pressure on the economic gauge.
On average, bankers surveyed expected farmland prices throughout the overall region to drop by 3.4 percent over the next 12 months.
Nebraska’s RMI dropped to 38.6, even as the farmland price index rose, and the value of agriculture goods and livestock exported were up year-to-date 36 percent compared to the same time last year.
Details on the full report can be found here.
