NFU guide: State of the Farming Economy

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The NFU's economic intelligence team has published its State of the Farming Economy briefing for October 2020.

The document provides a snapshot of the current economic situation and an insight into the medium-term prospects for the food and farming sector and why agriculture is important to the national economy.

What's in the briefing?

Key headlines in this edition include:

  • Updated commodity price analysis and outlook
  • The UK economy recovered in August, growing by 2.1%
  • Inflation jumped to 0.5% in September from 0.2% in August
  • Global food prices averaged 97.9 points in September, up from August
  • Retail sales continue to increase for the fifth consecutive month in September
  • Unemployment rate grew to 4.5% in the three months to August, from 4.1% in the previous quarter
  • Annual growth in employee pay strengthened in August 2020 as employees continued to return to work from furlough
  • Farming input costs declined by 1.0% in August 2020 compared with a year earlier
  • Agricultural borrowing was £19.54 billion in July 2020

Read the latest State of the Farming Economy briefing here (NFU members only – you’ll need to login).

How to log in: Use your membership number or the email address associated with your membership to log in. If you've forgotten your password, you can click here to reset it or contact NFU CallFirst on 0370 845 8458.​


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