Edited release
06/21/24
For a 10th straight month, the overall Rural Mainstreet Index sank below growth neutral, according to the June survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
Ernie Goss, who oversees the survey for Creighton University, says the index is driven by higher interest rates, weak agriculture commodity prices and slower ag equipment sales.
On a positive note, home sales unexpectedly expanded to 62.5 from 46.0 in May sales after seven straight months of below growth neutral readings.
Iowa is outperforming the 10-state average, increasing to 48.0 from May’s 40.6.
For the full report, go to Creighton.edu/economicoutlook.