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The overall Rural Mainstreet Index (RMI) dropped below growth neutral 50.0 for February, 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 for February fell to 47.9 from 52.0 in January. This marks the12th time since January 2025 that the index has moved below the growth neutral threshold. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

“Due to weakness in the farm economy, especially for grain, approximately 75% of bankers support additional Congressional financial support for the agriculture sector. Pullbacks in farm exports for 2025 continue to undermine the regional farm economy,” said Ernie Goss, PhD, Jack A. MacAllister Chair at Creighton University’s Heider College of Business.

The Federal Reserve’s interest rate setting committee, the FOMC, met January 27-28 to consider changing rates. Almost one in four bankers, or 23.1%, recommend reducing short-term interest rates by 25%.  Approximately 73.1% advocate no change, while the remaining 3.8% support a rate increase.

Farm equipment sales: The farm equipment sales index sank to a very weak 16.7 from 18.8 in January. “This is the 30th straight month that the index has fallen below growth neutral. Lower interest rates and the $12 billion of federal farm support have yet to stimulate farm equipment sales,” said Goss.

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