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St. Cloud Area Quarterly Business Report

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St. Cloud Focus

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Business leaders reported stronger local results in the last St. Cloud Quarterly Business Survey. 31% said their business activity expanded over the summer, while 24% said it had declined. Hiring improved, with continuing strength in wages paid, capital spending and prices received for products. The future outlook is much murkier, with 41% saying their business activity would expand over the next six months while 28% it would decline. Four of the six elements of the St. Cloud Index of Leading Economic Indicators rose in the May-July 2023 period while two others declined. Two special questions determined that employers think their employees care most about pay and benefits, but employers are more concerned about employee engagement and retention.


Quarter 3 of 2023



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