Economic "growth in the areas of the region and country tied to agriculture and energy are outpacing urban areas," Creighton University economist Ernie Goss told Steve Jordon of the Omaha World-Herald. The driving factors, at least in the 10 states Goss surveyed, are "global demand for grain and other food commodities, along with consumption of corn to produce ethanol."
The survey of bankers revealed a sharp increase in the farm land price index, marking the 23rd straight month of growth. The farm equipment sales index was also up from November. The economic growth may only be temporary, Goss warns, as Europe's financial problems slow growth in agriculture and energy, making the U.S. dollar stronger compared to other currencies. This may mean lower farm and energy prices for the first half of 2012, Jordan reports.
The survey of bankers revealed a sharp increase in the farm land price index, marking the 23rd straight month of growth. The farm equipment sales index was also up from November. The economic growth may only be temporary, Goss warns, as Europe's financial problems slow growth in agriculture and energy, making the U.S. dollar stronger compared to other currencies. This may mean lower farm and energy prices for the first half of 2012, Jordan reports.
No comments:
Post a Comment