Respected Report Still Finds Strong Optimism About MN Economy
Undated (KROC-AM News) - A respected economic report shows optimism about Minnesota's economy has dropped for two straight months but remains strong.
The latest Mid-America Business Conditions Survey put the state's overall economic index last month at 67.6. While that is down from the 73.2 reading reported for November and the all-time high of 82.7 in October, it remains very robust with any reading above 50 considered an indicator of economic growth over the next 3 to 6 months.
The strongest component of the index for December was delivery lead time at 88.5. Employment was the weakest component of Minnesota's index at 64.4, which is still a reading that suggests strong optimism by the business supply managers that participate in the monthly survey.