Survey Shows Minnesota’s Economy Slowed in May
Omaha, NE (KROC-AM News) A monthly report on economic activity in Minnesota and several other states shows a slowdown in May when compared to April.
The Mid-America Business Conditions Index released by Creighton University shows the May number was 50.4. Any number of 50 or lower indicates an economic slowdown. The April number was 52.7.
The author of the survey of supply managers in the nine station region says the report indicates positive but slow growth through the third quarter.
The survey of Minnesota’s supply managers put the state’s overall index at 51.1, down slightly from April (51.3). Survey author Ernie Goss says Minnesota’s economy has expanded in 2015, but at a slower pace than for the same time period in 2014. He says surveys over the past several months point to even slower, but positive, growth in the months ahead for the state.
“Firms linked to energy and agriculture are experiencing pullbacks in economic activity. Job growth in Oklahoma and North Dakota, two energy-producing states, has moved into negative territory,” said Goss.
“Other states dependent on agriculture are also experiencing slower economic growth. That growth is likely to move even lower in the months ahead as the strong U.S. dollar slows economic activity even more.”
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
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