Community Bankers of Iowa Monthly Banker Update August 2013 | Page 18

Creighton U N I V E R S I T Y Main Street Economic Survey Rural Mainstreet Economy Grows: Bankers Say Farm Bill Passage Important 20.9 percent expected no change. Farm equipment sales also softened for July, with an index of 50.0, down from June’s 53.2. “Farmers are getting increasingly cautious regarding economic conditions. This has been reflected in declines in our equipment-sales index and in the stock prices of agriculture equipment producers,” reported Goss. Banking: The loan-volume index moved above growth neutral for the month. The index soared to 75.7 from June’s 66.7. The checking-deposit index advanced to 53.7 from June’s 48.5, while the index for certificates of deposit and other savings instruments increased to a very weak 42.0 from 33.6 in June. Community bankers are more upbeat that Congress will address the increasing concentration of U.S. banking. As reported by Pete Haddeland, CEO of the First National Bank in Mahnomen, Minn., “TBTF (too big to fail) is gaining some traction (in D.C.).” This month bankers were also asked about the impacts of the federal spending sequester. Only 1.5 percent reported significant impacts, while 34.3 percent indicated moderate impacts with the remaining 64.2 percent detailing no impacts from the spending sequestration. Hiring: July’s hiring index declined to a strong 60.7 from June’s 61.4. “Readings over the past several months are consistent with an annualized growth rate i ????????????????? ??????????????????????????????????????????????????????????????????????????t????????? ???????????Q?????????????????????????????????????????????????????????????????????????????????????????)?????q]???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????t?????????q5????????????????????????????????????????????????? ???????????????????????????????????????????????????????????I????5???????????????t?????????!???????????????????Q???)????????????????????????????????)???e???????????????????Q???)???????????????????????????????????????)?????qM??????????????????????????????????????????????????I????5????????????????????t??????????????????????????????????????????? =??????????????????????????????????????????????????????????()???????())???M?????I????????????????$?I????5????????%?????????????????????????????????????????????????????????$?=??????????????????????????????????????????????????????????????????????$?5??????????????????????????????????????????????????????????????????????$?5???????????????????????????????????????????????????????????????????????????I????5?????????????????$????????????????????????????????????????????????????????]????????????????I????5???????????????????????????????????????????)??????????????????????????????????? =??????????????????=??????Q???I????5????????%??????I5$????????????????????????????????????????????????????????????????????????????)???e????????????????????????????)???e??????q1??????????????????????????????????????????????????????????????I????5???????????????Q?????????????????????????????????????????????????????????e??????????????????t????????????????)??????5???????? ???????I?????????????????? ???????U???????????????????????????????????????????????????????????????????????????????????????????????)???M?????????