Slowing Exports Expected to Dampen Minnesota Economy
Undated (KROC-AM News) - A respected report is predicting Minnesota will experience slower economic growth in coming months.
The Mid America Business Conditions Survey put Minnesota’s overall economic index at 51.3 in April. That was a slight improvement from March’s reading of 50, which marked the first time in almost 2 years the reading had fallen out of the range that forecasts growth.
The employment component of the index dipped to 47.9 last month, which suggests Minnesota business supply managers see some weakening of the state’s job market.
The author of the monthly report attributes the less optimistic outlook to an expected slowdown in exports because of the strong U.S. dollar and slow global growth for.
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