For an eighth straight month, the overall Rural Mainstreet Index (RMI) sank below growth neutral, according to the April survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
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As a result of strong farm financial conditions, the Farm equipment-sales index climbed to 61.4, its highest level since June of last year, and up from 60.4 in December. The index has risen above growth neutral for 24 of the last 26 months.
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The farm equipment-sales index jumped to a strong 59.5 from October’s weak 47.8. The index has risen above growth neutral for 22 of the last 24 months.
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June Survey Results at a Glance: The overall index fell below growth neutral for the first time since September 2020.
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The January farm equipment-sales index rose to its highest reading since April 2013.
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