St. Cloud Focus
This report found confirmation from area business leaders that a recession is at hand. 68% of our respondents thought a recession was coming when surveyed in December 2022 and still believe so six months later. Survey respondents were concerned about financial tightening resulting from disruptions in the banking industry, but very few have changed banks, and most did not see those disruptions as a significant factor in bringing about a recession.
Banaian, King and Komai Molle, Mana, "St. Cloud Area Quarterly Business Report, Vol. 25, No. 2" (2023). St. Cloud Area Quarterly Business Report. 100.