Economic Outlook
December survey highlights:
* For a second straight month, the regional Business Conditions Index declined, but remained in growth range.
* Approximately 36% of manufacturers reported that finding and hiring qualified workers would be their top challenge for 2021. This compares to 70% recorded last year at this time.
* On average, supply managers expect to receive an average wage and salary increase of 2.1%. This compares to 2.5% recorded at this time last year.
* The wholesale inflation gauge indicates elevated inflation in the pipeline.
* Comparative 2020 economic performance from top to bottom: (1) Nebraska, South Dakota, Arkansas, Missouri, Kansas, Oklahoma, Iowa, Minnesota and (9) North Dakota.
December Survey Results at a Glance:
* Overall index rose to its second highest reading in the past 10 months.
* For the first time since June 2013, the farm equipment-sales index rose above growth neutral.
* For the first time since 2013, the farmland price index rose above growth neutral for three straight months.
* Bankers ranked water availability as the top 2021 farm economy issue; farm labor cost/availability was ranked as the second biggest issue or concern.
* Among 10 farm concerns for 2021, farm income and farm liquidity were the two issues of least concern.
* Growth in agriculture income pulled farmer borrowing down for a second straight month.
