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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 30, 2016
Page
12
The Commerce Department reports July consumer spending up 0.3 percent, led by a 1.6 percent surge in purchases of long lasting goods and a 0.4 percent rise in income. Inflation remains muted with core PCE up 1.6 percent year over year. Wages climb 0.5 percent as savings edge higher to 794.7 billion dollars.
The Gazette reports a 6 percent year over year drop in the average Iowa farmland value in Q2 2016 per a Federal Reserve Bank of Chicago survey. On a quarterly basis values were flat from April 1 to July 1, 2016, with districtwide decline over the prior year blamed on lower corn and soybean prices affecting farm incomes.
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