Edited release
03/21/25
For the 18th time in the past 19 months, the overall Rural Mainstreet Index stayed below the 50.0 reading in March, according to the monthly survey of bank CEOs in rural areas of a 10-state region including Iowa, dependent on agriculture and/or energy.
The region’s overall reading for March increased to a weak 41.1 from February’s 38.0. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.
Nearly 63% of bankers expect 2025 farm income to be down from 2024’s weak farm income. Under 4 percent of bank CEOs predict 2025 farm income to expand from 2024’s level.
On a positive note, the new hiring index for March rose above growth neutral to 53.7 from February’s 43.5. Job gains for non-farm employers more than offset weakness among farm producers.
Individually, Iowa’s Rural Mainstreet Index improved by over 6 points, but still remains a weak 39.2. The only state that had an overall index over growth neutral was Missouri at 56. 2.
Colorado, Illinois, Kansas, Minnesota, Nebraska, the Dakotas, and Wyoming are the other states taking part in the survey. The full report is available at www.creighton.edu/economicoutlook.