New Minnesota Reports Find Stronger
Business Optimism About the Economy

According to recent survey reports released by the Minnesota Dept. of Trade and Economic Development, Minnesota businesses are more optimistic about 2003 that: 1) their orders will grow; 2) layoffs will slow; and 3) profits will improve. Hopefully this news is true not only for Minnesota, but for the nation as a whole.

My commentary is that once we know what kind of war we will be fighting with Iraq, we will have a better sense of whether this optimism is well-founded. We need to clear some of the risk and uncertainty out of the air to get a good read on how much business investment levels will resume and the economy will gain greater momentum. Nevertheless, it is good to hear an optimistic outlook for a change.

Go here to read the survey reports.