Minnesota Predicted to Have Above Average Economic Growth
Undated (KROC-AM News) - Business supply managers remain optimistic about Minnesota’s economy. The respected Mid-America Business Conditions Survey put the state’s overall economic index last month at 61.2. That is down a little over a half point when compared to the especially robust index from March, but it remains a strong indicator of confidence in the state’s economy. Any reading above 50 is considered a predictor of growth and the Minnesota’s index has now been above 50 the past four months.
The reading for last month is especially strong when compared to April of last year, when Minnesota’s overall index was only 49. A year ago, the survey put the employment component of the states index at just 45, while this April that reading was up to a robust 63.2.
The author of the report, Creighton University Professor Ernie Goss, says the results from the past several months indicate “Minnesota’s job and economic growth will exceed the national average through the third quarter of this year.”