Edited release
04/19/24
For an eighth straight month, the overall Rural Mainstreet Index (RMI) stayed below growth neutral, according to the April survey of bank CEOs in rural areas of a 10-state region including Iowa, dependent on agriculture and/or energy.
The region’s overall reading for April increased to 45.8 from 38.0 in March. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.
Ernie Goss of Creighton University, who oversees the Index, says higher interest rates, weaker agriculture commodity prices and higher grain storage costs kept the overall reading below growth neutral for the eighth straight month.
Iowa’s index was below the overall score, although it moved up slightly from 34.5 to 36.7.The new hiring index went above growth neutral in April. Missouri had the highest score, soaring from 51.7 in March to 75.8 in April.
Full details can be found at Creighton.edu.
