Economic Outlook

Economic Outlook

Recent Survey Results

Mid-America Business Conditions Very Weak for August:
Manufacturing Linked to Agriculture and Energy Struggle

August survey results at a glance:

* For a second straight month, the overall index was below growth neutral 50.0.
* Employment index remained below growth neutral for a third consecutive month.
* Government data show that over the past 12 months the regionís manufacturing sector lost more than 22,000 jobs, but added a total of 102,000 nonfarm jobs.
* Businesses expected wages to expand by 2.1 percent over the next 12 months.

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Rural Mainstreet Index Below Growth-Neutral for September:
Four of Five Bank CEOs Report Loan Restructuring

September Survey Results at a Glance:

* For a 13th straight month, the Rural Mainstreet Index fell below growth neutral.
* Almost 4 of 5 bank CEOs indicated restructuring farm loans due to weak farm income.
* Farmland prices remained below growth neutral for the 34th consecutive month.
* Almost one-fifth of bankers reported increasing rejection rates on agricultural loans due to weak farm income.

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