St. Cloud Area Quarterly Business Report

Publication Title

St. Cloud Times

Document Type

Research Study

Publication Date

12-9-2018

Abstract

After strong regional economic performance throughout 2018, area business leaders are preparing for slower growth and rising prices by the spring of next year. While growth is expected to slow, the area economy still remains on solid foundations as 2019 approaches. The continuing uncertainty over national trade policy, rising inflationary pressures (and associated increased interest rates), ongoing health insurance cost concerns and the looming future closure of Electrolux all create headwinds, however, that will likely cause the area economy to grow less rapidly in 2019. Current economic conditions over the past three months are strong as local employment grew at 1.6% over the year ending October 2018. Results of the St. Cloud Area Business Outlook Survey indicate strong current business activity by area firms despite continued difficulty finding qualified workers. The 6-month ahead future business activity outlook was the weakest November reading since the recessionary month of November 2008.

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