(Ernie Goss — RI Photo)
Omaha, Nebraska (RI) — A Creighton University survey of rural bank CEOs in Iowa and other Midwest states finds views of the economy sinking for the fifth time in the past six months.
Creighton’s Rural Mainstreet Index hit a three-year high in June, but this month dropped nearly 10 points in the region — and nearly 11 points in Iowa.
Creighton economist Ernie Goss, who directs the survey, says over half of the bank executives cited weak commodity prices as the biggest challenge facing the rural economy.
Goss says the war in Iran is also impacting farmers’ input costs.
The index also found home and retail sales falling in the Midwest, with farm equipment sales particularly weak.
The Rural Mainstreet Index also found a slight decline in Iowa agland prices, but a slight uptick in Iowa’s job market.
