New data shows lower crop prices are hurting the rural economy.
Creighton University economist Ernie Goss says the Mainstreet Index has fallen again for the 11th straight month. He says weak commodity prices and a drop in exports are the major drivers, and credit conditions are also feeling the pinch.
Goss says higher interest rates are limiting what farmers can do when it comes to capital purchases, and that is having a ripple effect. The index shows farm equipment sales for July have fallen nearly 20 points, marking the lowest level in more than 7 years.
