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Rebounding from the coronavirus has been difficult, and more challenges lie ahead. Learn about the outlook for U.S. agriculture in the latest economic review from CoBank’s Knowledge Exchange division.
Executive Summary
The coronavirus pandemic has now impacted all four quarters of 2020, and seemingly every aspect of life and business. The U.S. economy has been improving since late spring, but progress has slowed measurably, and with broad fiscal relief now off the table at least in the near-term, the economy will likely end the year in a fizzle.
Rural America is experiencing a dichotomy of improving industry fundamentals and a surge of COVID cases. Rural communities are now the source of a disproportionate number of new cases, just as we are all beginning to spend much more time indoors.
On the flipside, many rural industries have begun to turn the corner. This is particularly true in agriculture.
