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News Brief

Nov. 4, 2024Omaha, Neb. |  By: Jeremy Werner

Economic indicator shows Midwest continues to struggle

economy

OMAHA, Neb. - According to Creighton University’s Rural Mainstreet Index for October, the Rural Mainstreet Economy continues to face challenges, hitting its lowest level since the pandemic.

The index, a key measure of rural economic health, has remained below the growth-neutral line for 14 months, with October’s reading at 35.2.

Declining farm equipment sales, reduced farmland values, and high input costs are significant factors impacting the region. In Missouri, the index dropped to 52.4, and farmland prices fell by over 22% compared to last year.

Nebraska’s index slid to 33.5 with farmland values also on the decline, though agricultural exports surged by nearly 45% this year.

Kansas faced similar challenges with a dip to 33.4, and Iowa’s index fell to 37.1, alongside a reduction in farmland values by 2.3%.

Despite these hurdles, exports of agricultural goods and livestock saw a modest increase, climbing 1.1% year-over-year.