Rural Mainstreet Economic Outlook Soars To Highest Level Since 2011

(KFOR NEWS February 19, 2021) For the 4th time in the past 5 months, the Creighton University Rural Mainstreet Index (RMI) climbed above growth neutral. According to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy, the index increased to its highest level since January 2020.

February Survey Results at a Glance:

Overall index rose to its highest reading since January 2020.
Business and economic outlook soared to its highest level since March 2011.
Bank CEOs estimated 2021 cash land rent for non-irrigated, non-pastureland at $218.
Rural Mainstreet retail sales remain very weak.
The February farmland price index climbed to its highest level since May 2013.
Bankers expect farm equipment sales to expand by 3.8% over the next 12 months.

The overall index for February rose to 53.8 from January’s 52.0. The index ranges between 0 and 100 with a reading of 50.0 representing growth neutral. Only 8% of bank CEOs indicated economic conditions worsened from the previous month.