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News Brief

July 26, 2024 |  By: Jeremy Werner

Rural Mainstreet Index falls again

Agriculture

Creighton University's Rural Mainstreet Index has fallen below growth neutral for the 11th consecutive month, with July's reading at 41.3, down from 41.7 in June, marking the lowest since November 2023.

Creighton University Economist Doctor Ernie Goss attributes the economic slump to weak agricultural commodity prices. Goss also points to declining regional exports as a contributing factor. The International Trade Association reports a $198 million, or 3.6%, drop in exports of agricultural goods and livestock compared to last year, largely due to decreased exports to China. Additionally, farm equipment sales have continued to decline, with July's equipment sale index dropping to 19 from 31-point-eight in June.