Business conditions in Minnesota were on the low end for the the 11th straight month in June, according to a survey from Creighton University.
Twin Cities Business says the report shows the state’s business conditions index for June was 43.9. The index ranges from zero to 100, and an index greater than 50 indicates that the economy will expand over the next three to six months. The state’s May index was 42 and April’s was 42.6.
The survey also found business conditions indexes in Iowa, Missouri, Nebraska, North Dakota, and Oklahoma were all higher than that of Minnesota; Arkansas, Kansas, and South Dakota are in worse positions than Minnesota.
Creighton Economics Professor and Economic Forecasting Group Director Ernie Goss said that he expects Minnesota’s unemployment rate to moderate in the coming months and to top out at 8.5 percent in the third quarter of 2009.
“I continue to expect the mid-America economy to be out of a recession by the end of the fourth quarter of this year with job creation coming in 2010,” Goss said in a statement.