The St. Cloud Area Quarterly Business Report presents a quarterly analysis of economic and business conditions in the St. Cloud (Minnesota) region. It currently includes an Executive Summary, an analysis of the results of the St. Cloud Area Business Outlook Survey, the St. Cloud Index of Leading Economic Indicators, a recession probability index for the St. Cloud area, and a discussion of local data. The St. Cloud Area Quarterly Business Report is produced by the School of Public Affairs Research Institute and the Department of Economics at St. Cloud State University. Collaborating partners in the funding, design, editing, and/or publication of the report have included the St. Cloud Area Economic Development Partnership, the Greater St. Cloud Development Corporation, and Times Media. Print editions of the report have appeared in ROI Central Minnesota and currently appear as a special section in the St. Cloud Times. Authors have included Mark Partridge, former Professor of Economics, King Banaian, Professor of Economics, and Richard A. MacDonald, Assistant Professor of Economics.
This series contains videos based on the reports.
The Winter Institute, Department of Economics, and School of Public Affairs is excited to bring you the 2021 Economic Outlook Presentation recorded Thursday, Feb. 4 2021.
St. Cloud State University’s Winter Institute has been a leading conference on economics, business conditions and economics education for nearly six decades. Due to the pandemic, a full-scale, in-person event will not be held this year.
Moderator and Host: King Banaian, Dean of School of Public Affairs - St. Cloud State University
Guest Panelists include: Laura Kalambokidis, Minnesota’s State Economist; Louis Johnston, Professor of Economics - College of St. Benedict and Saint John's University; Luke Greiner, Minnesota Department of Employment and Economic Development (DEED)
Slides from a presentation delivered through a virtual meeting on December 17, 2020 that reviews the December 2020 St. Cloud Area Quarterly Business Report. Local economic business activity between August and October was the worst in a decade, according to 38 respondents to the St. Cloud Area Quarterly Business Survey. Local labor markets are tight, however, with 27% of respondents saying they foresee greater difficulty finding qualified workers. The St. Cloud Area Index of Leading Economic Indicators indicates improving conditions by the middle of 2021. In special questions, businesses indicated that they expect the state Legislature to take up COVID-19 relief as their top priority, with other economic concerns also mentioned.
King Banaian and Richard MacDonald
St. Cloud State University School of Public Affairs Dean King Banaian and Professor Richard MacDonald provided a virtual review of the June 2020 Quarterly Business Report in lieu of the normal in-person meeting. The report shows the area economy entered a recession in March 2020 with unprecedented speed and depth. The audience was polled on the shape and length of the recession, the impact of the coronavirus pandemic on labor markets and concerns for increases in the national debt.
King Banaian and Richard MacDonald
At a virtual presentation on September 17, 2020, the results of the August 2020 St. Cloud Area Quarterly Business Report were presented. Key takeaways included the smaller drop in employment in St. Cloud since the outset of the COVID-19 pandemic than other parts of Minnesota. St. Cloud is currently in a recession and both business leaders and authors’ statistical analysis expect the recession to end in the first half of 2021, with 42% of surveyed business leaders in the St. Cloud area believing business activity would rise in the next six months while 30% thought it would fall. More business leaders expect increased difficulty hiring qualified workers than expect easier hiring conditions, and one in three thought they would be offering higher wages over the next six months.