OMAHA, NE – The latest Rural Mainstreet Index has declined for an eleventh consecutive month.
Creighton University economist Ernie Goss says weak agriculture commodity prices and declining exports contributed to weakness in the economy.
He says, “China, for example, their economy’s just moving sideways to down, and that means they’re buying less of our soybean imports.”
Goss says credit conditions are also tighter. He says higher interest rates are cutting into the ability of farmers to purchase new equipment and other factors that are pulling the overall economy down.
The index is a monthly survey of ag bankers in 10 states including North Dakota, South Dakota, Minnesota, and Iowa.
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