C.7. Local Trends in Farm Income and Expenditures as Reported by Banks in Each Region Percent _____________________________________________________________________________________________________ Farm income Farm household spending Farm capital spending ________________________________________________________________________________________ Quarter Lower Same Higher Lower Same Higher Lower Same Higher _____________________________________________________________________________________________________ Ninth (Minneapolis) Federal Reserve District (MI*, MN, MT, ND, SD, WI*) _____________________________________________________________________________________________________ 2003: Q4... | 8 33 59 6 61 33 16 51 33 2004: Q1... | 7 25 68 5 52 43 8 41 51 Q2... | 2 37 61 2 55 42 5 49 46 Q3... | 15 47 38 5 63 33 10 56 34 Q4... | 20 30 50 5 56 40 11 40 49 2005: Q1... | 17 34 48 5 53 42 16 39 45 Q2... | 17 58 25 5 62 33 8 58 34 Q3... | 33 61 6 9 68 23 28 61 11 Q4... | 26 32 42 4 55 41 18 50 33 _____________________________________________________________________________________________________ Tenth (Kansas City) Federal Reserve District (CO, KS, MO*, NE, NM*, OK, WY) _____________________________________________________________________________________________________ 2003: Q4... | 17 35 48 10 64 25 20 54 26 2004: Q1... | 11 42 47 8 68 25 16 53 31 Q2... | 11 49 40 9 65 26 15 60 24 Q3... | 11 51 38 6 71 23 12 63 25 Q4... | 10 40 50 5 60 35 9 53 38 2005: Q1... | 12 48 40 5 59 36 12 55 33 Q2... | 15 59 26 5 64 31 14 60 26 Q3... | 35 52 14 15 54 31 34 54 12 Q4... | 30 49 21 13 58 30 27 56 16 _____________________________________________________________________________________________________ Twelfth (San Francisco) Federal Reserve District (AL, AZ, CA, HI, ID, NV, OR, UT, WA) _____________________________________________________________________________________________________ 2003: Q4... | 29 25 46 17 71 13 25 42 33 2004: Q1... | 17 52 30 13 74 13 26 52 22 Q2... | 13 43 43 0 70 30 22 43 35 Q3... | 5 36 59 0 73 27 9 45 45 Q4... | 17 30 52 13 57 30 13 48 39 2005: Q1... | 27 55 18 14 68 18 23 55 23 Q2... | 13 50 38 8 58 33 8 50 42 Q3... | 24 38 38 19 62 19 29 57 14 Q4... | 24 29 48 14 62 24 24 48 29 _____________________________________________________________________________________________________ * State falls only partly within the indicated Reserve District. n.a. Not available. Source. Federal Reserve Bank quarterly surveys of agricultural credit conditions at commercial banks. 41