Minnesota’s Economy May Be Headed for a Slowdown
Omaha, NE (KROC AM News) – The Mid-America Business Conditions Index for August is out and it shows weak numbers.
The monthly report shows for a second straight month, the overall index was below 50, which indicates a contraction in economic activity. The August figure was 47.8, up slightly from July’s 47.6. The index was 54.3 in May.
The report also shows the employment index remained below growth neutral for a third consecutive month.
The Creighton University Mid-America Business Conditions Index is a leading economic indicator for a nine-state region stretching from Arkansas to North Dakota.
The Minnesota numbers in the August report show the overall index fell below the 50 figure, dropping nearly 2 points to 49.4 The employment index shows job growth in Minnesota over the last 12 months was 1.5 percent.
"Business losses for metal manufacturers and machinery producers more than offset gains for computer and electronic product manufacturers and food processors in the state,” said Ernie Goss, the author of the report.