Minneapolis Federal Reserve Bank releases economic outlook
Growth on the employment and economic fronts are forecast for Minnesota.
This month, the Federal Reserve Bank of Minneapolis reported the 2013 economic outlook calls for continued growth of the state’s economy.
“Based on the Minneapolis Fed’s statistical model, employment in Minnesota is expected to grow by a solid 2.2 percent, while the unemployment rate is predicted to drop to 4.7 percent in the fourth quarter of 2013. Growth in personal income is expected to exceed 5 percent.”
Toby Madden, regional economist at the Minneapolis Fed, said the state’s economy continued an upward trend last year. And Madden stated it looks like growth could accelerate in the new year.
“Businesses are upbeat for their own operations and are mixed about the state economy. Metro area companies expect more growth than those in greater Minnesota,” said Madden in a news release about the economic outlook.
The forecast includes information from a business outlook poll from the district, including Minnesota, Montana, North and South Dakota, northwestern Wisconsin and the Upper Peninsula of Michigan.
The fed stated: “The surveys of business leaders and manufacturers indicate that businesses expect more sales and production in 2013 and will accomplish this through increased employment and capital investment. They also expect to raise prices.
“In regard to the state economy, both the surveys and the statistical model see increases in housing construction. Respondents from the metro area are optimistic and expect employment and consumer spending to rise. However, manufacturers and firms in greater Minnesota are more pessimistic. Manufacturing survey respondents expect most state indicators to be down, while business leaders from greater Minnesota expect flat employment and decreased investment and consumer spending.”
Viking Land Harley-Davidson owner Dan Walton, who has the store on Edgewood Drive in Baxter as well as one in Sauk Rapids, confirmed Viking Land’s purchase of the Dondelinger’s auto dealership land along Highway 210 and said more details are expected in the coming weeks.
RENEE RICHARDSON, senior reporter, may be reached at 855-5852 or renee.richardson@brainerddispatch.com. Follow on Twitter at www.twitter.com/Dispatchbizbuzz.
Comments (7)
Add commentYou Want Harleys, Here they come
Be There. June 1st at the parade from Craguns through Baxter (If the Baxter City Council doesn't screw it up), and through Brainerd culminating at the fairgrounds. Thousands of Harleys, Victories, Hondas etc. along with Classic Cars. They will be arriving from all corners of the state and elsewhere during the week following Memorial Day. Viet-Nam Traveling Wall will be set up at the fairgrounds. Several different military aircraft flyovers also at fairgrounds ceremony. Concessions will be open also.. Hey ladies, there's a possibility Tom Selleck will even be there (possibility). This will be the biggy this summer. Follow this website for future details. Remember, you heard it here first at the BDD.
tom selleck?
Isn't he about 70 years old now? I think you better find a younger "star" if you want the ladies to get all ga-ga
It'll fit just fine
I think 70 yrs old will fit just fine.
Tom is fine
I would show up for Tom Selleck. I don't ride a motorcycle and neither does my husband. Does Tom ride?
Charlie, I hope you remind us closer to the date.
Thank you.
You have to be 70
to afford a Harley don't you? (chuckle)
SML
I will be updating you periodically as the dates come closer. This is just a heads up. There will be a lot more info forthcoming. Watch for billboards, window posters, newspaper articles etc. This event is called RIDE FOR HEALING and starts on memorial day at the state capital and goes from there to the four corners of the state and works its way through the state for the whole week following memorial day, picking up riders and gaining momentum as it works its way toward Brainerd/Baxter, culminating at the CWC fairgrounds on 1 & 2 June. The traveling wall will be set up at the fairgrounds on 31 May, 1 & 2 June. Big parade and celebration at fairgrounds on 1 June. Approx 9-10am start at Craguns and winding through Baxter/Brainerd and ending around 2pm at fairgrounds. Many large sponsors and prizes to be given away at fairgrounds to those who have pre-registered. I will be giving you registration info soon. I believe it will cost about $35. per driver (classic car or motorcycle) and $30. for each additional passenger. Pre-registration gets you wrist bands, T-shirts and other goodies. You can also register at the gate. I'm not quite positive yet but I believe the prizes are for pre-registration only. Concession stands will be open at the fairgrounds and the entire event is open to the public. Many other events throughout the week also. This is a heads up notice so spread the word. It will be advertised throughout the entire state in the near future. The main purpose of this event is for the Minnesota State VFW Commanders fund raising contribution to the new Vietnam Veterans Education Center which started construction last week near the Viet Nam Memorial Wall in Washington DC. This is truly an event you cannot miss. Register early and get your wristbands.
More on Ride For Healing event
Up Date- There will be many sponsors, both large and small and as they become available, I will post them and we ask that you please patronize them. These are corporate as well as local businesses. Please support them as they support us, the Veterans of this Free Country. Thank You.