Midwestern Trump states, ag groups still pessimistic: Goss

Especially without a farm bill economists like Creighton University's Ernie Goss and ag groups like the National Corn Growers Association are sounding the alarm about the Trump tariffs.

Goss and the Business Conditions Index track the economies of nine midwestern states. Those Trump states have lost some 3700 jobs in the last five months including South Dakota where unemployment is ticking up while losing more manufacturing opportunities. Supply managers remain pessimistic with some 41% signaling a recession and a significant drop off in the next six months. 

WalletHub sez 54% of Americans say the Federal Reserve's September rate cut saved them money but South Dakota has dropped to 49th in financial literacy and 50th in financial knowledge and education despite the state's Republican governor's pathological Pollyannaism. The state is the 43rd best economy in the US, 51st in percentage of businesses owned by women and 50th in innovation potential. Because of talent flight and brain drain in 2023 South Dakota was among the least innovative states, ranked 50th in venture capital spending per capita, 47th in R&D spending and 51st in share of tech companies. South Dakota is 24th of states where workers are fleeing their jobs, 35th in women's health and safety and 47th in road and bridge infrastructure. 

According to the most recent findings from WalletHub 75% of Americans expect a recession if Trump is elected.  60% of Americans think the economy is improving and 68% are concerned that cutting interest rates will make inflation worse.

October's wholesale price gauge also continued to fall to 56.5 from 56.6 in September, indicating cooling inflationary pressures. However, Goss says supply managers remain pessimistic regarding the economic outlook, with roughly 41% expecting a recession--citing supply chain disruptions as the top concern. [Goss: October BCI numbers a mixed bag]

Review the WalletHub release linked here.