Home > News > Rising Input Prices and Tax Increases Cause Sharp Ag Economy Barometer Declines in May

The monthly Purdue University/CME Group Ag Economy Barometer was down 20% in May with a score of 158 — this is the lowest reading since September 2020. Survey analysts say rising input prices and tax increases have played major factors. The Index of Future Expectations hit 149 (falling 20 points) and the Index of Current Conditions came in at 178 (falling 17). The Ag Economy Barometer is created from telephone survey responses from 400 agricultural producers across the U.S. Positivity among the industry is on a sharp decline — only 27% said they expect good times in U.S. agriculture within the next five years, decreasing 12 points from April’s results. This is the lowest number in the survey’s history. View more survey report trends and insights.

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