The Creighton University Rural Mainstreet Index measured above growth neutral in June for a fifth straight month.
This is the first time since July 2015 the survey has recorded five straight months of overall indices above growth neutral, according to the monthly survey of bank CEOs in rural areas of a Midwest dependent on agriculture. However, the overall index slid slightly to 56.1 from 56.3 in May. Further, organizers caution that “the negative impacts of recent trade skirmishes has yet to show up” in the survey results.
As part of the survey, bankers responses project farmland prices to sink by another 2.1 percent over the next year, and the confidence index, which reflects expectations for the economy six months out, fell to 48.8 from May’s 50.0, indicating declining economic optimism among bankers. Bankers also say in the survey that over the past month borrowing by farmers expanded, as the loan-volume index rose to 76.3 from 74.3 in May.
From the National Association of Farm Broadcasting News Service.