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MARYVILLE

KXCV-KRNW


News Brief

July 25, 2023Omaha, Neb. |  By: Jeremy Werner

Rural Mainstreet Index shows growth in Midwest

economy

OMAHA, Neb. - One of the nation's growth indicators for 10 states, including the four states in the KXCV/KRNW listening area, has some good news.

The Rural Mainstreet Index for July expanded above the growth-neutral threshold for the fourth consecutive month. Despite a slight slip from June, the overall reading stands at 55.6, indicating slow economic growth.

Farmland prices continue to rise, and non-farm investors secured about 17.1% of farmland sales in the past six months, almost double compared to last year.

Farm equipment sales remain tepid due to higher borrowing costs. Bank loan volume remains strong, but there are concerns about the impact of the Federal Reserve's short-term interest rate policy.

Hiring and retail sales show positive trends, while business confidence remains weak.

As for what the report showed for our area specifically, Iowa's economy showed signs of growth, while the economies in Nebraska, Kansas and Missouri showed very slight declines.