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Bankers note steady farm economy in latest Mainstreet survey
A monthly survey of rural bankers in the Midwest reflects a steady farm economy despite some headwinds.
Creighton University Economist Ernie Goss says the April Rural Mainstreet index rose above growth neutral for the month.
“The agricultural sector continues to pull the rest of the rural Mainstreet economy forward,” he said. “That’s good news.”
He tells Brownfield the agricultural economy has weakened some year-over-year.
“Higher interest rates have cut into farm income,” Goss said. “The trade situation is not quite as positive today as it was in the fourth quarter of 2022.”
Goss says farmland prices and ag equipment sales expanded from March.
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