The Creighton University Rural Mainstreet Index, or RMI, for September climbed above growth neutral according to the monthly survey of bank CEOs in rural areas. The overall index rose to 50.1 form 46.5 in August. This marks the third time in the past five months that the overall index has risen above growth neutral. The trade war with China and the lack of passage of the USMCA of NAFTA’s replacement, are driving confidence and growth lower for most areas of the region.
Creighton University Economist Ernie Goss says, that despite a $16 billion Federal support package and stronger grain prices, 40% of bankers are reporting local economies are a recession.
The Kansas RMI for September improved to 49.7 from 45.8 in August. Over the past 12 months rural areas in Kansas have experienced job growth of 0.06% compared to a stronger 1.6% for urban areas of the state.
