After falling below growth neutral in August, the farm equipment-sales index soared to 58.0 for September from 45.9 in August. The index has risen above growth neutral for 21 of the last 22 months.
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After 23 straight months of expanding farm equipment sales, farmer purchases plummeted for the month.
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The July farm equipment-sales index 56.5 – The 20th straight month that the index has advanced above growth neutral.
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Bank CEOs expect 2022 net farm income for grain farmers to be 12.6% above 2021 levels.
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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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OMAHA, Neb. (May 19, 2022) — The Creighton University Rural Mainstreet Index (RMI) fell from April’s healthy reading and remained
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Farm equipment sales: This was the 17th straight month that the index has advanced above growth neutral. Readings over the past several months are the strongest string of monthly readings recorded since the beginning of the survey in 2006.
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Although confidence in their economies appears to have wavered among rural bank CEOs, several economic measures showed strength in February.
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While the indices show economic growth, bankers warned that inflation and rising costs of input and land could hinder rural economies.
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The farm equipment-sales index confirms the demand that manufacturers are experiencing.
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For the 10th straight month, the Creighton University Rural Mainstreet Index (RMI) remained above growth neutral, according to the monthly survey
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The July farm equipment-sales index extended the longest run in growth territory that the index has recorded since 2012.
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The farm equipment sales index in June logged the greatest growth it has shown since 2012. This marked the seventh consecutive month of growth.
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The May farm equipment-sales index rose to its highest level since 2013, and the confidence index expanded.
Read moreAbout 61 percent of bank CEOs reported that their local economy expanded between April and May.
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In other news, bankers reported that approximately 9.1 percent of farmland sales over the past the six months have gone to nonfarmer investors.
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The March farm equipment-sales index rose to 63.5, its highest reading since February 2013.
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The February farm equipment-sales index rose to 62.7, its highest reading since February 2013 and up from 54.5 in January.
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The January farm equipment-sales index rose to its highest reading since April 2013.
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After 86 months below growth neutral, the farm equipment sales index bounced into growth territory in December in the Rural Mainstreet Index.
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After 86 straight months of readings below growth neutral, farm equipment bounced into growth territory for the month.
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Since falling to a record low in April, the Rural Mainstreet Index has increased for six straight months. The farm equipment sales index improved this month, too.
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The index has risen consistently since bottoming out in April. The farm equipment sales index remains in a recessionary zone.
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The August farm equipment-sales index fell to 32.8 from 34.4 in July.
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The July farm equipment-sales index increased to 34.4 from 32.8 in June.
Read moreThe farm equipment sales index, while still weak, also made gains.
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The June farm equipment-sales index increased to 32.8 from 21.9 in May. The confidence index improved to 43.8 from May’s 22.1.
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The Creighton University Rural Mainstreet Index declined in February but remained above growth neutral. The farm equipment sales index increased but did not yet break into positive territory.
Read moreThe confidence index in the Rural Mainstreet survey shows a boost that researchers have not seen since 2013.
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