St. Cloud Area Quarterly Business Report, Vol. 25, No. 1,
The St. Cloud Area recession that we predicted in last quarter’s review had not started in the first quarter of 2023. The St. Cloud Area Quarterly Business Survey showed fewer respondents reporting a decrease in their own business activity over the last three months, and more were positive about the next six months, than had responded in November 2022. The St. Cloud Index of Leading Economic Indicators ticked up slightly in the last quarter, with only 3 of 6 indicators contributing positively to the index. In special questions, one-third of respondents said job turnover in 2022 was greater than in 2019, with most others seeing no difference. Survey respondents also indicated tighter credit conditions, with more relying on their own sources of finance.
Banaian, King and Komai, Mana, "St. Cloud Area Quarterly Business Report, Vol. 25, No. 1" (2023). St. Cloud Area Quarterly Business Report. 98.