Economic Outlook
July survey highlights:
* The Business Conditions Index moved above growth neutral for the 20th straight month, and into a range pointing to positive but slower growth in the next three to six months.
* Wholesale inflation index pointing to Federal Reserve rate hike Sept. 26.* Almost two-thirds of firms reported recent tariffs and trade restrictions have had, or will have, a negative impact on their company.
* Approximately 46.8 percent of supply managers indicated recent tariffs have had negative impacts on buying from abroad.
* Business confidence rose to a very healthy level.
July Survey Results at a Glance:
* For a sixth straight month the overall index rose above growth neutral.
* Almost one-third of bank CEOs recommended that the Federal Reserve leave short-term interest rates at their current levels for the rest of the year.
* More than three of five, or 78 percent, of bank CEOs reported that current trade skirmishes and rising tariffs have had a negative impact on their local economy.
* Approximately 75.6 percent of bankers reported negative impacts of trade rifts and tariffs on grain farmers in their area.
* Economic confidence plummeted among bankers for the month.
