Sluggish Growth Predicted for Minnesota Manufacturers
Undated (KROC-AM News) - A respected economic report is projecting modest growth for Minnesota’s manufacturing sector.
The latest Mid-America Business Conditions Survey put the state’s overall economic index at 50.7 last month. That was down about a point and a half from February and is barely in the range that predicts growth. The employment component of the index dropped to 46.2, and any reading below 50 is an indicator of weakness.
The author of the report says the data points to an expansion in manufacturing output, but the actual number of manufacturing jobs is expected to remain flat for the next 3 to 6 months.