Ernie Goss
Ernie Goss
areas clear economic ethanol greater region reliance
For example, greater reliance on ethanol by the U.S. will make many areas in the region clear economic winners.
auto continuing economic finally growth half points problems related solid stories survey turnaround
For 2006, Minnesota's big economic stories will be problems related to the continuing cutbacks in the U.S. auto industry, a turnaround for the telecommunications industry, and finally a weakening of Minnesota's construction industry. Nonetheless, our survey points to still solid growth for the first half of 2006.
continue despite durable economic expanding expect experience goods growth improved industry overall report vehicle
Despite difficulties for Missouri's vehicle manufacturing sector, durable goods manufacturers overall continue to report expanding economic conditions. I expect the state's telecommunications industry to experience much improved growth for 2006.
conditions detailed durable economic food goods producers reported softer
Non-durable goods manufacturers, especially food processors, reported much softer economic conditions for the month. On the other hand, durable goods producers detailed solid, but not spectacular conditions for February.
across bankers board economic february hiring home readings reported retail survey weakness
The bankers in our survey reported economic weakness across the board for February with readings of 28.8 for retail sales, 44.0 for new hiring and 38.5 for home sales.
higher interest quarter rates second stronger
It's going to be stronger in the first quarter and in the end of the second quarter. It's going to weaken as higher interest rates set in.
bad companies entirely expand expanding great hard heavy losses orders terms
It's hard to say why the losses are so great in Missouri, but a lot of it has to do with heavy manufacturing. Companies are able to expand in terms of new orders without expanding employment. That's not entirely bad. I mean, it may be bad for the workers, but not for the economy.
among business growth offset reports services somewhat strong transport truck weaker
Strong growth among firms in business and professional services and truck transport offset somewhat weaker reports from manufacturers for March.
clear earlier economy energy expected gas growth natural overall pointing prices slower solid stronger
It's clear the overall economy is solid and pointing to growth in the upcoming months, much stronger than anticipated earlier because of energy prices and natural gas prices. We would have expected much slower growth.
affecting asian beef borders factor growth open partners rate state trading
The rate at which our Asian trading partners open their borders to U.S. beef will be an important factor affecting growth for the state in 2006.
concern reason
There's every reason to have some concern there.
few inflation lower national past point pressures seen somewhat
As we have seen in the past few months, our inflation gauge, and most national inflation indicators, point to somewhat lower inflationary pressures ahead.
businesses completing dakota month ordinarily played projects pushing reported role south until weather
As in much of the region, weather played an important role in pushing the state's index higher. Businesses in South Dakota reported undertaking and completing construction projects for the month that would ordinarily have been sidelined until spring.
announced businesses close closure confidence despite energy ethanol fortunes high industry regional renewable rising stood ties tyson
Despite the announced closure of the two Tyson plants, Nebraska's confidence index stood at a regional high of 70.2. Certainly, the rising fortunes of the state's ethanol and renewable energy industry have buoyed businesses in this industry or firms with close ties to this industry.