Creighton University’s index of rural economic conditions dropped to 42.5 in October, falling below the growth neutral benchmark for the fifth time in six months.
Survey Findings: According to the survey of rural bank CEOs:
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The farm and ranchland index increased to 50.3 from 50.1 in September.
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The farm equipment sales index increased to 36.8 from September’s 25.0.
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The loan volume index sank to 58.5 from 73.7 in September.
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Bankers remain pessimistic about economic growth for their area over the next six months.