Economy in Rural America Lags Behind
While the overall economy continues to show modest growth, rural America is lagging behind. Currently there is no question that the rural economy is in a downturn. Ag economist and financial analyst Dr. Dave Kohl says that so far the normal economic cycle has functioned as expected.
Kohl described it as an elongated downturn, but remarked that it is nowhere near the farm crisis of the 1980s. He anticipates that the economy will hit bottom in 2018, which will negatively impact roughly 60% of farmers.
In that time Dr. Kohl expects the remaining 40% of farmers to weed out less effective, less progressive types of managers, and that those 40% will buy out the remaining inefficient operations.