Economic Outlook
September survey highlights:
* The Business Conditions Index remained above growth neutral for the 22nd straight month, but declined for the month.
* Business confidence surged for the month.
* Wholesale inflation index points to another Federal Reserve rate hike Dec. 19.
* More than one-half of supply managers indicated negative impacts from tariffs.
* Almost one-fourth of supply managers supported reducing or eliminating recently enacted tariffs.
October Survey Results at a Glance:
* For a ninth straight month, the overall index rose above growth neutral.
* On average, bankers estimated that farmland prices declined by 4.0 percent over the past 12 months and expect farmland prices to fall by another 3.2 percent over the next 12 months.
* Approximately one-fifth of bank CEOs expect low farm income and falling farmland prices to present the greatest challenge to banking operations over the next 5 years.
* Loan demand by farmers remains strong.
