Anything above 50 is considered a sign of growth. The overall Midwest index dropped to 49.9, its first sub-growth reading since January. 

“Our surveys over the last several months indicate the Rural Mainstreet economy is expanding outside of agriculture. However, the negative impacts of tariffs and low agriculture commodity prices continue to weaken the farm sector,” said Creighton economist  Ernie Goss.

The index is based on a monthly survey of bank CEOs in a 10-state region that depends on agriculture or energy. 

The overall growth figures show much stronger jobs growth in urban areas in the past 12 months — 1.7 percent. The rural areas report 0.1 percent job growth. 

By comparison, the rural areas of Minnesota lost jobs at a 0.3 percent rate, Illinois gained 2.4 percent, Missouri gained 3.1 percent, Illinois 2.4 percent, Nebraska 1.1 percent and South Dakota 1.8 percent. 

In the urban areas, Illinois increased jobs by 0.7 percent, Minnesota 1.6 percent, Missouri 1.1 percent, Nebraska 2.1 percent, and South Dakota 1.7 percent. 

The survey also found:

• 37 percent of the CEOs supported reducing tariffs.
• Holiday sales are expected to rise 1.7 percent from last year.
• Farm loan defaults are expected to increase by 5 percent over the next year.