Report Finds Continued Optimism About Minnesota Economy
Undated (KROC-AM News) - Minnesota business supply managers remain optimistic, but their optimism about the state’s economy dimmed a little last month.
The monthly Mid-America Business Conditions Survey shows Minnesota’s overall economic index slid from April’s robust reading of 61.2 to a still strong reading of 58.4 in May. A year, the overall index for May was 54.3. Any reading above 50 is considered an indicator of future economic growth.
Every component of the state’s index for May were above 50, with the employment index the strongest at 66.3. That’s the highest reading for employment component since March of 2014.The author of the respected report says Minnesota experienced slight job gains for both durable and non-durable goods producers last month, with medical equipment manufacturers expanding at a solid pace.