Minn. businesses growing more confident, index saysby Martin Moylan, Minnesota Public Radio
St. Paul, Minn. — A key economic measure shows that Minnesota businesses are feeling more confident about the economy.
The state's Business Conditions Index reached nearly 68 in March, up from 60 in February. The index measures the buying activity of company purchasing managers. Scores above 50 indicate economic growth.
Creighton University economics professor Ernie Goss compiles the index and said Minnesota's index is driven by two sectors with eager customers overseas.
"Manufactured goods, agricultural goods and anything connected to agriculture ... those business are doing real well," Goss said.
Goss said even the housing market in Minnesota seems to have bottomed out, but Goss forecasts it may be nearly two years before the state recovers the roughly 140,000 jobs it lost between December 2007 and March 2010.
- All Things Considered, 04/01/2011, 5:24 p.m.