edited release
11/17/23
For a third straight month, the overall Rural Mainstreet Index (RMI) sank below growth neutral, according to the November survey of bank CEOs in rural areas of a 10-state region including Iowa, dependent on agriculture and/or energy.
Overall: The region’s overall reading for November fell to 40.4 from 44.4 in October and 49.5 in September. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.
Iowa’s November RMI slumped to 32.4 from 43.5 in October.
Ernie Goss, the director of the RMI said nearly 90 percent of bankers reported that job openings in their local economy exceeded the available workers.
The area confidence index figure of 21.2 is the most negative outlook recorded since Creighton began the monthly survey in January 2006.
Iowa, Colorado, Illinois, Kansas, Minnesota, Missouri, Nebraska, the Dakotas, and Wyoming participate in the survey.