Rural Mainstreet Index Falls Again

The Rural Mainstreet Index fell again in October, marking the eighth time this year it has dropped below the growth-neutral level of 50. The index came in at 34.6, down from 38.5 in September, the weakest reading since May 2020. Creighton University economist Ernie Goss says lower commodity prices continue to pressure the rural economy. Farmland values also remain soft, staying below growth-neutral for the 17th time in 18 months. Farm loan delinquencies rose to 1.6 percent, while farm equipment sales showed only slight improvement, extending 26 months of weakness.