Report Finds Less Optimism, But Still Predicts Growth for Minnesota Economy
Undated (KROC-AM NEWS) - The respected Mid-America Business Conditions Survey shows the state’s overall economic index dropped last month, but it remained in the range that predicts future economic growth.
Minnesota’s overall index slid from 54.8 in July to 51.9 in August. Any reading above 50 is considered an indicator of growth. The employment component of the state’s Index was 54.9 last month. That was up slightly from June, which was the highest the reading has been since February even though manufacturing employment is virtually unchanged since January with the the growth experienced by durable goods producers offset by losses among non-durable goods producers.
The author of the report, Ernie Goss, says the survey results point to positive economic gains for Minnesota’s overall economy the rest of the year despite the weakness among manufacturers.