Another Prediction of Economic Growth in Minnesota
Undated (KROC-AM News) - Business supply managers remain optimistic about Minnesota’s economy. After a five-month stretch of pessimistic reports, the respected Mid-America Business Conditions Index for December continued to predict growth for a third straight month.
The overall index was down slightly from November but remained a relatively healthy 56.8. Readings above 50 are considered indicators of a growing economy, while any index number below 50 signals economic weakness. A year ago, Minnesota’s overall economic index was closer to neutral at 52.3
The strongest component of the overall index in December was new orders at 69.5, while the employment index was 53, down from a robust 64.5 in November.
The Mid-America Business Conditions Index is a report that is often cited by the Federal Reserve in its closely watched Beige Book reports on the nation's economy.
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