Mainstreet Index Hits Highest Level in Nearly Five Years

The Creighton University Rural Mainstreet Index rose to 56.3 in May, its highest level since July 2013 and up from 53.5 in April. This is the first time since July 2015 that the overall index has recorded four straight months above growth neutral.   

The index ranges between 0 and 100 with 50.0 representing growth neutral.

The May farm equipment-sales index climbed to 43.8 from April’s 37.8. In May 2017, the farm-equipment index was 26.8.

The confidence index, which reflects expectations for the economy six months out, was unchanged from April’s 50.0 indicating little economic optimism among bankers.

“Surveys over the past several months indicate the Rural Mainstreet economy is trending upward with improving, and positive, economic growth. While agriculture commodity prices have improved recently, prices remain below breakeven for a large share of grain farmers,” said Creighton University’s Ernie Goss.  

Each month, community bank presidents and CEOs in rural, 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 are included.