Report Finds Robust Economic Conditions in Minnesota
Undated (KROC-AM News) - Minnesota business supply managers are expressing growing confidence in Minnesota’s economy.
The new Mid-America Business Conditions Survey put the state’s overall economic index last month at a robust 63.6. Readings above 50 are considered an indicator of economic strength and last month’s reading was the highest since last June when it peaked at 68, which was the highest it has been since 2011.
The production and sales component of the index was the strongest last month at 76.6, followed by delivery lead time at 69.5. The lowest component was employment, which came in at an anemic reading of 46.8 and suggests Minnesota’s sluggish job growth rate could stick around through the summer.