MN Business Supply Managers Remain Upbeat
The respected Mid-America Business Conditions Survey shows Minnesota’s overall economic index slid slightly last month, but it continued to reflect a great deal of optimism among business supply managers. The reading dropped 6-tenths of a point to 66.3, which is well into the range that predicts future economic growth. The report from Creighton University shows Minnesota’s economic index has now been above 50 for 22 straight months.
The author of the report, Professor Ernie Goss says, "Durable goods producers and nondurable goods manufacturers, including food processors, continue to report very healthy growth," He added, "Firms in the state with ties to vehicle manufacturing are also expanding at a healthy pace."
The strongest component of the state’s index remained new orders, at 73.6. The employment index was also strong in September at 60.5, with average weekly wages in Minnesota up 2.6 percent over the last year.
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