Fed Says Regional Economy ImprovingThe Federal Reserve Bank of Minneapolis says the economy in the Upper Midwest is strengthening at a modest pace.
By: Associated Press, WDAZ
MINNEAPOLIS (AP) - The Federal Reserve Bank of Minneapolis says the economy in the Upper Midwest is strengthening at a modest pace.
Fed economists Toby Madden and Rob Grunewald delivered their midyear update on the regional economic outlook Wednesday.
They say employment, consumer spending, manufacturing and home construction are up in the region. And they say the Fed's forecast models predict the trends will continue into next year.
They also say things are looking up for livestock and dairy producers, and the region's major crops are off to a good start.
Their report covers the Fed's Ninth District, which includes Minnesota, Montana, North Dakota, South Dakota, northwestern Wisconsin and Michigan's Upper Peninsula.