Market to Market

Economic Outlook: January 22, 2021

Jan 22, 2021  | Ep4623

Normal is a word we may have left in the past. The hurdles of COVID-19 have altered our course with new curves of virus flare ups and slower-than-hoped vaccine distribution. 
As rural main street waits for its shot in the arm the economy moves ahead. This week, some of the last reports with data gathered during the Trump administration were delivered.--
Construction of new homes jumped 5.8 percent in December, the strongest growth since 2006.
Even with higher prices and a shrinking pool of listings, existing home sales increased 0.7 percent last month, also a 14-year high. 
The Rural Mainstreet Index turned in its second highest reading since before the COVID-19 pandemic, staying above growth neutral. Rural bankers are expressing concern over possible inflation and higher interest rates. 

 

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