Minneapolis Fed District Regional Economic Outlook

The Minneapolis Federal Reserve District economy is expected to grow well in the second half of 2004 and during 2005, according to the Minneapolis Fed's forecast models.

Even though gasoline, commodity and materials prices have recently jumped (see related stories on natural resources and gasoline prices), the district economy seems to be weathering the bumps in prices, as indicated by solid growth in retail sales, construction and manufacturing.

Hiring is also picking up as companies are facing increased demand. The overall outlook for agriculture is favorable with strong commodity prices and generally good growing conditions, except for some drought-stricken areas.

More here.