After six straight months of below growth neutral readings, the Creighton University Rural Mainstreet Index, or RMI climbed above the growth neutral threshold for a second consecutive month, according to the monthly survey of bank ceos in rural areas of a 10-state region dependent on agriculture or energy. The Region’s overall reading in January rose above the growth neutral threshold. The January index climbed to 53.8 from 50.1 in December. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.
The January RMI for Minnesota increased to 44.5 from December’s 42.9. Minnesota’s farmland-price index rose to 65.6 from 64.4 in December. The new-hiring index for January increased slightly to 48.9 from 48.0 in December. Between 2021 and 2022, agriculture product exports from Minnesota expanded by 104 percent to $1.3 billion in 2022.
