February 2023 Survey Results at a Glance:
- For a third straight month, the region’s overall economic reading hovered slightly above growth neutral, indicating slow growth.
- Farmland prices have now advanced for 29 straight months.
- Farmers have expanded their purchases of farm equipment for 25 of the past 27 months.
- In 2022, the 10-state region accounted for approximately three-fourths of all U.S. ethanol production.
- Roughly 91.3% of bankers with an ethanol plant in their economy indicated that it was an important industry for their local economy.
- Only 7.7% of bankers surveyed have an ethanol plant in their economy and rank it as a relatively unimportant industry in their area.
- Approximately 63.0% of bank CEOs support capture and sequestration of CO2 from ethanol plants in their area provided farmers receive adequate compensation for pipelines crossing their farmland.
OMAHA, Neb. (Feb. 16, 2023) -- For a third straight month, the Creighton University Rural Mainstreet Index (RMI) climbed above the growth neutral threshold, 50.0, according to the latest monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
Overall: The region’s overall reading in February remained above the growth neutral threshold. The February index declined to 50.1 from 53.8 in January. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.
Overall: The region’s overall reading in February remained above the growth neutral threshold. The February index declined to 50.1 from 53.8 in January. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.
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