The latest Creighton University Rural Mainstreet survey shows nearly 63 percent of rural bank CEOs in Iowa and nine other Midwest states believe the rural economy is either in a recession now or will sink into recession next year. Creighton University economist Ernie Goss directs the survey and calculates a monthly economic index for the region. It has fallen to its lowest level since May of 2020. According to the International Trade Association, Iowa has exported more than one billion dollars worth of agricultural goods and livestock so far this year — about 28 percent above last year’s tally. However, over 18 percent of the rural bankers who responded to the Creighton survey expect farmers in their area will wind up earning less than they spent raising crops and livestock this year.
