St. Cloud Area Quarterly Business Report

Document Type

Research Study

Publication Date

9-2018

Abstract

Area firms reported strong economic conditions over the past three months as local employment grew at a 1.9 per­cent rate over the year ending July 2018. Results of the St. Cloud Area Business Outlook Survey indicate strong current business activity by area firms despite historic difficulty finding qualified workers. The six-month ahead future business activity outlook was weaker for surveyed firms as 30 percent offirms expect decreased business activity by February 2019. As the future closure of Electrolux approaches and the impact of national tariffs begins to be felt, the area economy is entering a period of heightened uncertainty that clouds the future outlook for many area firms. The manufacturing, education/ health, wholesale trade, transporta­tion/warehousing/utilities and con­struction sectors of the regional econo­my showed strong job growth over the past year, while employment contract­ed in the retail trade, professional and business services and financial activ­ities sectors. The new St. Cloud Index of Leading Economic Indicators fell from its elevated level last quarter, but re­mained 12 percent higher than its read­ing of one year ago. Area firms report in­creased prices received - a trend that has been observed throughout 2018. Survey responses indicate area firms are experiencing a relatively less favor­able impact from national economic policies than was initially anticipated when the administration entered the White House at the beginning of 2017.

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.