What is in this article?:
- Rural Mainstreet Economy Remains Strong In January
- State-by-state outlook
While the rural economy continues to shine, some bankers are concerned that rising input prices will hurt producers’ bottom line.
Each month, community bank presidents and CEOs in nonurban, ag and energy-dependent portions of the 10-state area are surveyed regarding current economic conditions in their communities and their projected economic outlooks six months down the road. Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming are included.
This survey represents an early snapshot of the economy of rural, ag and energy-dependent portions of the nation. The Rural Mainstreet Index (RMI) is a unique index covering 10 regional states, focusing on approximately 200 rural communities with an average population of 1,300. It gives the most current real-time analysis of the rural economy.
Colorado : For the 13th straight month, Colorado’s RMI remained above growth neutral. The January index slipped to 72.7 from December’s 74.6. The farmland and ranchland price index sank to 78.9 from 88.5 in December. Colorado’s hiring index for January was up significantly to 65.8 from December’s 50.8.
Illinois : Illinois remained above growth neutral for the 21st straight month. The January index was unchanged from December’s 61.1. Farmland prices remained significantly above growth neutral with a reading of 77.7, down from 85.7 in December. The state’s new hiring index (NHI) dipped to 55.5 from December’s 58.3.
Iowa : Iowa advanced to 57.3 from 56.3 in December. The farmland price index (FPI) declined to 68.2 from December’s 77.1. Iowa’s new hiring index for January rose to 51.4 from December’s 50.7.
Kansas : Kansas’ RMI inched higher – to 52.6 from 52.5 in December. The farmland price index declined to a still solid 62.6 from 70.3 in December. NHI dropped to 47.9 from December’s 50.7.
Minnesota : Minnesota’s RMI fell to 49.9 from 55.8 in December. Minnesota’s FPI sank to 57.8 from 76.2 in December. Minnesota’s NHI slumped to 45.5 from December’s 53.6.
Missouri : The RMI for Missouri sank below growth neutral to 47.8 from December’s 50.3. FPI for January was unchanged to December’s 52.2. Missouri’s NHI dipped to 50.6 from 51.6 in December.
Nebraska : The January RMI fell to 58.8 from 60.5 in December, while FPI declined to 73.5 from December’s 84.6. Nebraska’s NHI dipped to 53.4 from December’s 57.8.
North Dakota : The North Dakota RMI for January remained at a regional high but declined to 87.2 from December’s lofty 89.8. The FPI slumped to 74.2 from December’s 88.9, while North Dakota’s NHI slipped to 78.7 from 83.9.
South Dakota : The January RMI sank to 51.2 from December’s 51.9, while FPI declined to 60.1 from 69.4 in December. South Dakota's NHI for January fell to 46.7 from 50.2 in December.
Wyoming : The January RMI dipped to 59.0 from 60.3 in December, while the January farmland and ranchland price index declined to 73.9 from 84.3 in December. Wyoming’s NHI declined to 53.6 from 57.7 in December.