July Rural Mainstreet Index shows strength

Bankers expect farmland price growth to fall by half in next 12 months

 

Source: Creighton University

via BEEF Magazine - Jul 15, 2021

 

For the eighth straight month, the Creighton University Rural Mainstreet Index (RMI) remained above growth neutral, according to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.

 

Overall

 

The overall index for July fell to a healthy 65.6 from June’s strong 70.0. The index ranges between 0 and 100 with a reading of 50.0 representing growth neutral. Approximately, 31.3% of bank CEOs reported that their local economy expanded between June and July.

 

“Solid, but somewhat weaker, grain prices, along with the Federal Reserve’s record-low interest rates, and growing exports have underpinned the Rural Mainstreet Economy. Even so, current rural employment remains below pre-pandemic levels,” said Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University’s Heider College of Business.

 

Farming and ranching ...

 

Hiring ...

 

Confidence ...

 

Home and retail sales ...

 

July Survey Results at a Glance ...

 

more

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