Market to Market

Economic Outlook: July 10, 2020

Jul 10, 2020  | Ep4547

The number of positive COVID-19 cases in the United States topped 3 million this week.

Four states – Florida, Texas, California and Arizona - are among the most populous and are experiencing some of the highest infection rates. The economies of these states contribute about 30 percent of all U.S. economic output. Any new restrictions in those places could slow the recovery of the entire country’s economy.  ---

The Producer Price Index fell 0.2 percent in June as the cost of food dropped sharply. The measure of inflation pressures before they reach consumers were offset by big increases in energy prices.

When food and energy are stripped from the equation, the core stat was down 0.3 percent.

Farmer sentiment is up according to the Purdue University Ag Economy Barometer. The index climbed 14 points in late June. ---

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