Economic Outlook

Recent Survey Results

Business Conditions Weaken in July:
Hiring and Wage Growth Remain Frail

July survey results at a glance:

* Leading economic indicator slumps for the month, but with solid gains for Minnesota and South Dakota. 
* More than one-fourth of businesses expect negative impacts from a September Federal Reserve rate hike.
* Hiring remains weak with job gains for Arkansas, Iowa, Minnesota, Missouri and South Dakota offset by job losses for Kansas, Nebraska, North Dakota, and Oklahoma.
* Wholesale inflation gauge falls.   
* Average weekly wages for region flat from same period in 2014.

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Rural Mainstreet Index Falls to Growth Neutral for August:
Cash Rents Expand as Farmland Prices Slump

August Survey Results at a Glance:

* The Rural Mainstreet Index sinks to growth neutral for August.
* Farmland prices decline for the 21st straight month, but cash rents remain strong at $263 per acre.
* On average, bankers expect farmland prices to decline by another 5.8 percent over the next 12 months.
* Housing sales expand at a healthy pace.

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