Creighton University: Rural Mainstreet Index Rises For August; Bankers Await 7.8 Pct Turn Down Inwards Farm Equipment Sales Adjacent 12 Months
Apologies inwards advance, I idea nosotros had posted final month's Rural Mainstreet Index in addition to when checking for September saw that mortal (ahem) had failed to striking "publish" on the August post.
We'll rectify that today in addition to grab upwards on Tuesday.
From Creighton's Heider College of Business:
We'll rectify that today in addition to grab upwards on Tuesday.
From Creighton's Heider College of Business:
...MUCH MOREAugust Survey Results at a Glance:* For a 7th remove calendar month the overall index rose higher upwards growth neutral.OMAHA, Neb. (Aug. 16, 2018) – The Creighton University Rural Mainstreet Index climbed higher upwards growth neutral inwards August for a 7th remove month, according to the monthly survey of depository fiscal establishment CEOs inwards rural areas of a 10-state percentage subject on agriculture and/or energy.
* Bankers reported a decline inwards the sale of agriculture equipment in addition to hold off sales to decline yesteryear around other 7.8 percent over the side yesteryear side 12 months.
* More than half of bankers supported cutting lately enacted tariffs.
* In reaction to weak farm commodity prices in addition to income, almost one-third of depository fiscal establishment CEOs reported rejecting a higher per centum of farm loans.
Overall: The overall index climbed to 54.8 from 53.8 inwards July. The index ranges betwixt 0 in addition to 100 amongst 50.0 representing growth neutral.
“Surveys over the yesteryear several months betoken the Rural Mainstreet economic scheme is expanding exterior of agriculture. However, the negative impacts of recent merchandise skirmishes pick out begun to surface, weakening already anemic grain prices,” said Ernie Goss, PhD, Jack A. MacAllister Chair inwards Regional Economics at Creighton University’s Heider College of Business.
According to Jim Stanosheck, CEO of State Bank inwards Odell, Nebraska, “The tariffs pick out in addition to are costing our ag customers on grain prices in addition to items they must purchase. Talking to 1 of my customers this morning, he idea that perhaps the tariffs would convey nearly ameliorate prices inwards the future.”
Farming in addition to ranching: The farmland in addition to ranchland-price index for August was unchanged from July’s 44.7. This is the 57th remove calendar month the index has fallen below growth neutral 50.0.
In reaction to weak farm commodity prices in addition to income, almost one-third, or 31.0 percent, of depository fiscal establishment CEOs reported rejecting a higher per centum of farm loans. More than half, or 54.8 percent, indicated raising collateral requirements, piece 4.8 percent reported reducing the size of farm loans.
The August farm equipment-sales index brutal to 37.8 from July’s 38.8. This marks the 60th consecutive calendar month the reading has moved below growth neutral 50.0.
In terms of the sale of farm equipment over the side yesteryear side 12 months, bankers hold off sales to decline yesteryear 7.8 percent.
Banking: Borrowing yesteryear farmers expanded for August, exactly at a slower measurement than inwards July, equally the loan-volume index declined to 72.2 from 76.9 inwards July. The checking-deposit index slumped to 36.0 from July’s 37.8, piece the index for certificates of deposit in addition to other savings instruments increased to 48.8 from 43.9 inwards July....
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