Search
Minnesota
For the month of October 2009, reported November 2, 2009
The state’s leading economic indicator continues to point to improving economic conditions in the months ahead. The Business Conditions Index, based on a survey of supply managers, expanded to 55.9 from September’s 55.4. Components of the overall index for October were new orders at 64.9, production, or sales, at 60.9, delivery lead time at 59.5, inventories at 52.1, and employment at 42.2. Since the national recession began in December 2007, Minnesota has lost 4.8 percent of its jobs with 4.2 percent of the loss occurring since October of 2008. “Even though Minnesota’s unemployment rate has recently declined, based on our surveys over the past several months, I expect the state’s jobless rate to increase by another 0.6 percent by the end of the year,” said Goss.