Economic Outlook
June survey highlights:
* Overall index moved above growth neutral for a seventh straight month and highest level since February 2011.
* Employment gauge remained in a very healthy range.
* On average, supply managers expect the prices for their company’s products to expand by only 1.7 percent over the next 12 months.
* New export orders and imports expanded for the month.
July Survey Results at a Glance:
* The overall index experienced it’s largest one-month decline since November 200.8
* On average, bankers expect 15.1 percent of grain farmers to suffer negative cash flows for 2017.
* Loan volumes rise to second highest reading in survey history.
* On average, bankers estimated loan defaults of 4.9 percent over next 12 months, down from the 5.4 percent predicted last year at this time.
* Approximately 55.9 percent of bank CEOs say the Federal Reserve should raise interest rates at least one more time in 2017.
