Rural Mainstreet Economy Expands Again in July
The overall Rural Mainstreet Index (RMI) climbed above the 50.0 growth neutral reading in July, marking the second time since July 2023 that the index has moved above growth neutral for two straight months, according to the monthly survey.
This is the first time since July and August of 2023 that the survey has registered two consecutive months of above growth neutral readings,†said Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University’s Heider College of Business.
Farm Â鶹app Sales: The farm equipment sales index slumped to a very weak 16.7 from 22.7 in June. “This is the 23rd straight month that the index has fallen below growth neutral. High input costs, tighter credit conditions, low farm commodity prices and market volatility from tariffs are having a negative impact on the purchases of farm equipment,†said Goss.
Farming and Ranch Land Prices: For the 14th time in the past 15 months, farmland prices slumped below growth neutral. The region’s farmland price increased slightly to a weak 47.9 from 40.9 in June. “Elevated interest rates, higher input costs and volatility from tariffs have put downward pressure on farmland prices. On average, bankers expect farmland prices to fall by 2.9% over the next 12 months,†said Goss.
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