A Creighton University economic indicator that focuses on rural areas points to continued growth in Wyoming during the months ahead.

Due largely to continued energy development, the Wyoming Rural Mainstreet Index for August increased to a regional high of 74.0, up from 51.8 in July and 54.4 in June. At the same time, retail sales stood at 64.5.

An index number above 50 indicates growth, while a number below 50 points to economic weakness in six months.

Bank presidents and CEOs in nonurban, agriculturally and resource dependent portions of 11 mostly Great Plains and Midwestern states are surveyed monthly to arrive at the index.

In Colorado, energy development and higher energy prices offset weakness evident for livestock producers.

The Wyoming Economic Analysis Division recently reported that farm and ranch earnings dropped by more than $100 million in the first quarter. Wyoming agriculture is dominated by livestock, rather than crops production.

In the Rural Mainstreet Index, which includes such big crop producing states as Iowa, Illinois, Kansas and North Dakota, 55.9 percent of bankers reported improved crop conditions from last month, and farm income remained strong.

Even so, the index overall slipped to a record low of 38.9, down from 41.4 in July.

"It's clear that even as farm income remains strong, rapid increases in input cost are slowing the growth in farm-equipment sales," Economics Professor Ernie Goss said in a press release.

Retail sales, hiring and banking components of the overall index also continued to slide.

Business Editor Tom Mast can be reached at tom.mast@trib.com, or call 307-266-0574.