Midwest manufacturing growth slows, but still strong
September 17, 2018
Minnesota, Midwest saw an increase in June, but the rate has slowed.
Manufacturing growth, while still strong, slowed some in June as producers said they worried about the impact of U.S. trade tariffs and global trade wars.
The monthly Mid-America Business Conditions Index, produced by Creighton University, tracks factory conditions in Minnesota and eight other central states. Results for June showed the growth index at 61.8, down from an unusually robust 67.3 in May but still far above the neutral growth 50.
Minnesota's index fell to 58.8 from 64.2 in May, putting it seventh among the nine states surveyed.
Factory leaders in June said they experienced slower growth in product orders, employment, confidence levels and trade, while simultaneously realizing a surge in wholesale prices. On the plus side, producers expanded inventories in June.