TOPEKA, Kan.- Conditions in the Kansas rural economy improved this month over March but remain below growth-neutral according to the latest economic report from Creighton University.
The Kansas Rural Mainstreet Index for April rose to 36.0 from March’s 30.2. A score of 50 is considered growth neutral, while anything below 50 is considered contraction. The index ranges between 0 and 100, with a reading above 50.0 representing growth.
“Higher interest rates, weaker agriculture commodity prices and higher grain storage costs pushed the overall reading below growth neutral for the eighth straight month,” said Creighton economics professor Ernie Goss of April’s report.
Kansas Individual Indicators
The state’s farmland price index climbed to 52.6 from 52.1 in March. According to trade data from the International Trade Association, exports of agriculture goods and livestock for 2024 year-to-date were up 6.7% from the same period in 2023.
The new hiring index for Kansas increased to 51.9 in April from 47.7 in March.
Regional Numbers
For an eighth straight month, the overall Regional Rural Mainstreet Index sank below growth neutral, however the overall reading for April increased to 45.8 from 38.0 in March, which was its lowest since June 2020.
Farmland prices increased for the 53rd straight month.
The report analyzes data from a 10-state region including Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, and Wyoming.
