Minnesota Economic Outlook: July 2010

Minnesota’s economy is growing again after steep declines over the past two years. From the third quarter of 2007 to the third quarter of 2009, Minnesota lost 143,000 jobs, or 5.3 percent of total employment. Signs of economic recovery are coalescing, yet the state’s growth is likely to remain somewhat disappointing over the coming year as Minnesota consumers continue to repair their balance sheets … Minnesota’s economy is growing again after steep declines over the past two years. From the third quarter of 2007 to the third quarter of 2009, Minnesota lost 143,000 jobs, or 5.3 percent of total employment. Signs of economic recovery are coalescing, yet the state’s growth is likely to remain somewhat disappointing over the coming year as Minnesota consumers continue to repair their balance sheets and the state’s housing market remains moribund. The national economy is expected to slow in the second half of 2010 and remain slow in 2011. Minnesota’s economy is not immune to this and will likely continue to struggle to grow. Thank you for your interest in Wells Fargo’s Economic Commentary by email. You are receiving this message because you have requested Economic Commentary information and updates sent via email. If you no longer wish to receive these emails, please click on the following link to access the Economic Commentary by email registration page: http://www.wellsfargo.com/economicsemail.

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