Economic Outlook
September survey highlights:
* Overall index sank for the fifth time in the past six months and moved below growth neutral.
* Approximately one-half, or 48%, of supply managers indicated that the trade war was having a negative impact on their company.
* Approximately 18% of supply managers reported that their firm had changed vendors due to the trade war and related trade retaliation.
* Business confidence remained fragile.
September survey highlights:
* After falling below growth neutral for August the Rural Mainstreet Index jumped slightly above the 50.0 reading for September.
* More than four in 10 bank CEOs report that their local economy is in a recession.
* As a result of continuing weakness in the farm sector, more than half of bankers reported increasing collateral for farm loans, and one in four rejected a higher percent of farm loan applications.
* Bankers expect farm equipment sales in their area to decline by another 7.4% over the next 12 months.
