The Creighton University Rural Mainstreet Index for May rose slightly from April’s weak reading, according to the monthly survey of bank CEOs in a 10-state region dependent on agriculture or energy.  

The overall index, based on a 100-point scale, climbed to 49.0 from 46.0 in April. The Iowa index for May rose to 52.1 from April’s 45.4. Iowa’s farmland-price index climbed to 52.3 from 42.1. Iowa’s new-hiring index jumped to 62.9 from April’s 55.7.

The strong dollar continued to cause problems.

“The stronger U.S. dollar continues to be a drag on the Rural Mainstreet economy,” said Ernie Goss, Jack A. MacAllister Chair in Regional Economics at Creighton University’s Heider College of Business. “The strong U.S. dollar has made U.S. goods, especially agriculture and energy products, less competitively priced abroad. This has dampened farm income and the Rural Mainstreet economy.”  

The farmland and ranch land price index for May climbed to 39.7 from April’s 33.4, but marked the 18th straight month it moved below growth-neutral. However, “according to banker comments, there is great deal of variation across the region with many areas continuing to experience strong demand for farmland with little deterioration in farmland prices,” said Goss.