Nebraska Rural Mainstreet Index Falls this Month, Still Indicating Growth

The latest Rural Mainstreet Index for Nebraska shows economic growth, but fell two points this month to just under 63. Any number above 50 indicates a growing economy. The Creighton University report asks bank CEOs about hiring, banking, farming, and other factors throughout ten Midwestern states.

Creighton University Professor Ernie Goss leads the monthly survey. He said the survey results indicate dropping cropland and commodity prices in the coming months.

“The reason for the declines stem simply from the high levels we’re at right now,” Goss said, “but also the trade tensions that we’re seeing at least the, I should say the global tension we’re now seeing between Russia, Ukraine and the U.S.”

Goss said potential military actions on the Russia-Ukraine border could cause export restrictions, which would hurt the state’s grain exports.

Also, Goss said most bankers anticipate the Federal Reserve to raise interest rates this year, to ideally relieve inflation.