Rural Mainstreet Index Rises

The Creighton University Rural Mainstreet Index for March rose to its highest level since December, although a significant share of survey responses arrived before the scope of flood damage in the Midwest was understood.

The overall index expanded to 52.9 from 50.2 in February. This is the highest reading since December and the eleventh time in the past twelve months that the index has moved above growth neutral. The index ranges between 0 and 100 with 50 representing growth neutral.

The March farm equipment-sales index was unchanged from February’s 32.8.

The confidence index, which reflects bank CEOs’ expectations for the economy six months out, dipped to 45.7 from February’s 48.5.

Each month, community bank presidents and CEOs in non-urban agriculturally and energy-dependent portions of a 10-state area are surveyed regarding current economic conditions in their communities and their projected economic outlooks.

Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming participate.