The Creighton University Rural Mainstreet Index – or RMI – increased slightly from May’s feeble reading.
The monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy represented the third straight month with recessionary economic conditions.
The overall index for June climbed to 37.9, well below a growth neutral level of 50, but up from May’s 12.5 and April’s record low 12.1.
Farmland prices continue to slide, but at a slower pace, with a June reading of 46.8 up from May’s 39.7.
The June farm equipment-sales index increased to 32.8 from 21.9 in May.
New hiring exceeded layoffs for June with an index of 51.5, up from May’s 17.1 and April’s record low 9.4.
The confidence index, which reflects bank CEO expectations for the economy six months out, improved to 43.8 from May’s 22.1.
The home-sales index increased to 57.8 from May’s 48.6.
The retail-sales index for June expanded to 28.9 from May’s 11.1.
The Kansas RMI for June rose to 37.6 from May’s 9.2.
The state’s farmland-price index expanded to 47.7 from 38.1 in May.
The new-hiring index for Kansas advanced to 45.5 from 3.4 in May.