State income growth sluggish: Swenson

September 25, 2019

David SwensonDavid Swenson, associate scientist, was interviewed for a September 24th Des Moines Register story, "Iowa's personal income growth sags behind national average in second quarter."

But Iowa State University Economist Dave Swenson said the drop off from the first quarter this year to the second quarter was the result of a decrease in federal subsidies for farmers during that period. The USDA gave Iowa farmers about $988 million as part of its $12 billion bailout package earlier this year.

With the federal government announcing another $16 billion farming bailout in May, Swenson argued the sector will bounce back when the government releases its next personal income data in December. But he added that the overall rate of income growth in the state has been sluggish.

  • Swenson also had two interviews with Tom Philpott, Mother Jones  (1) on the contraction in the ethanol industry even though overall market demand has not changed markedly on a year over year basis and (2) whether local foods production had increased in terms of fruit and vegetable acreage in the Midwest, and if it had or had not, why.
  • Was also a guest on Iowa Public Radio‚Äôs River to River program to discuss the impact of the trade war on consumers.
  • And talked with Rob Boshart, Cedar Rapids Gazette, about farm income levels and their outlook in light of both trade concerns and the ethanol RFS controversy.
  • And spoke with Ian Richardson, Des Moines Register, about the siting of a new warehousing operation in Bondurant.
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