Creighton University’s index of rural economic conditions climbed to 50.3 in August, rising above the growth neutral benchmark for only the second time in the past six months.
Survey Findings:
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Bank CEOs rated approximately 52.5% of farm borrowers in good condition.
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Approximately 47.5% of bankers expect farm income to decline in the next 12 months.
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As a result of weak farm equipment sales, bankers reported that borrowing to support farm equipment purchases accounted for only 5.3% of agriculture lending while real estate loans represented 52.6% of ag lending.