St. Cloud Area Quarterly Business Report, Vol. 24, No. 4
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Description
St. Cloud State University School of Public Affairs Dean King Banaian provided an in-person and virtual review of the December 2022 Quarterly Business Report at the Sartell Community Center in Sartell, Minnesota. We predict the St. Cloud metro area will be in recession within the next 4 to 6 months, based on results of the St. Cloud Area Quarterly Business Survey as well as data on professional employment and the stock prices of area publicly-traded corporations. The St. Cloud Index of Leading Economic Indicators fell 5% in the latest quarter and 9.8% in the last year. Employment growth in the region has slowed dramatically during the fall, lagging gains elsewhere in Minnesota. Survey results showed lower expectations of area business leaders for their own business activity and difficulty finding qualified workers.
In special questions businesses indicated tax burdens were the most common issue for the next legislative session in St. Paul. They also reported that the Federal Reserve’s higher interest rates were having negative effects; this was causing some firms to put off investment and expansion plans and others to pay down their higher-interest rate loans.
Publication Date
Winter 12-2022
City
Sartell, MN
Keywords
Quarterly Business Report, QBR, Economics, Local Economy
Disciplines
Economics
Recommended Citation
Banaian, King and Komai, Mana, "St. Cloud Area Quarterly Business Report, Vol. 24, No. 4" (2022). St. Cloud Area Quarterly Business Reports Video. 13.
https://repository.stcloudstate.edu/scqbr_video/13
