A new report suggests the presidential election has caused a major surge in feelings about the agriculture economy. The December Purdue/CME Group Ag Economy Barometer is at its highest level ever. The reading now stands at 132, increasing 51 points since October. Purdue University Center for Commercial Agriculture Director Jim Mintert says optimism about the future of the economy helped drive up the numbers.
In an interview with Inside INdiana Business, he said it is difficult to tell if the figures will hold. Mintert says more than two-thirds of survey respondents considered themselves financially worse off than a year earlier. "If this optimism is going to be sustained, I think we’re going to have to see some improvement in people’s perception of their financial situation and that hasn’t shown up on our surveys yet," he said. "That remains to be seen and that will be interesting to watch in future surveys.
In all, 400 producers from throughout the country were surveyed. The results show confidence in both the agricultural economy and the U.S. economy in general. You can see the Purdue/CME Group Ag Economy Barometer report by clicking here.
In an interview with Inside INdiana Business, Purdue University Center for Commercial Agriculture Director Jim Mintert said it is difficult to tell if the figures will hold.