Positive Trend Continues on Rural Mainstreet

For a second straight month, the Rural Mainstreet Index has indicated economic growth.

The overall index dipped slightly in March to 54.7 from 54.8 in February. The index ranges between 0 and 100; 50 represents growth neutral. The last time that the Creighton University survey recorded two straight months of overall indices above growth neutral was mid-2015.  

“Surveys over the past several months indicate that the Rural Mainstreet economy is trending upward with improving, but slow, economic growth. However, weak agriculture commodity prices continue to weigh on the rural economy,” said Ernie Goss, chair in regional economics at Creighton University’s business school.

The March farm equipment sales index jumped to 37.2 from February’s 33.8. In March 2017, the farm equipment sales index was 22.

The confidence index jumped to 58 from 52.4 in February. This is the highest reading for the economic confidence number since June 2013.

The index is a monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.