![Rural Mainstreet Economy Shrinks for Six Straight Months](http://townsquare.media/site/1144/files/2020/03/Farm-Stock-2020-1.jpg?w=980&q=75)
Rural Mainstreet Economy Shrinks for Six Straight Months
The Creighton University Rural Mainstreet Index fell below growth-neutral for the sixth-consecutive month. On a scale of one to 100, with 50 representing growth neutral, the Economic Confidence Index plummeted to its lowest level since 2020. Almost 31% of bank CEOs in the survey area recommend that the Fed cease raising interest rates.
Despite the weaker rural outlook, only 14% of the CEOs say their bank had increased financial commitments on farm loans. Farmland demand remains strong as the Farmland Price index climbed above 50 for the 26th month in a row. Almost 61% of bank CEOs expect these high farmland prices to plateau, while 22% say those land prices will likely decline during the period.
“The rural Mainstreet economy is now experiencing a downturn in economic activity,” said Dr. Ernie Goss. “Last month, almost one in four bankers said the economy was already in a recession.”
If you have a story idea for the PNW Ag Network, call (509) 547-9791, or e-mail glenn.vaagen@townsquaremedia.com
More From 610 KONA
![Farm Bank Lending Increased 8.1% Last Year](http://townsquare.media/site/1144/files/2020/03/Money-in-Wallet.jpg?w=980&q=75)
![NASDA Releases Feeding the Economy Report](http://townsquare.media/site/1144/files/2020/03/Farm-STOCK-26.jpg?w=980&q=75)
![Farmer Sentiment Dropped in February](http://townsquare.media/site/1144/files/2022/08/attachment-Farmers-Stock-July-2022-1.jpg?w=980&q=75)
![Washington Farm Economy Looks Good For The Year Head](http://townsquare.media/site/1144/files/2021/06/Farm-Stock-40-with-Bales.jpg?w=980&q=75)
![Oil Prices Are Moving Lower, But The Reason May Surprise You](http://townsquare.media/site/1144/files/2020/03/Diesel-Pump-1.jpg?w=980&q=75)
![Government Payments Expected To Decrease Again This Year](http://townsquare.media/site/1144/files/2020/09/CFAP-Funding-Farmers-Mask-2020-2.jpg?w=980&q=75)
![Muzzall: Capital Gains Tax Likely To Hit Ag](http://townsquare.media/site/1144/files/2020/03/Olympia-Capitol-3-1.jpg?w=980&q=75)
![Future Of Farming: Agriculture Drives Washington’s Economy](http://townsquare.media/site/1144/files/2020/03/FFA-Jacket-3.jpg?w=980&q=75)
![Farm Share of U.S. Food Dollar Reached Historic Low in 2021](http://townsquare.media/site/1144/files/2020/07/Old-Farmer-2020-1.jpg?w=980&q=75)