Index: Slower growth expected for Minn. manufacturers

A key economic measure from Creighton University indicates manufacturers in Minnesota continue to expect growth in coming months, but perhaps more slowly than last year.

The index is based on a monthly survey of company supply managers who are asked about their spending, hiring and other economic expectations. Creighton's business conditions index for Minnesota clocked in at 56 last month, up a bit more than one point from May. A reading above 50 indicates economic expansion in the near future.

"The Minnesota number were in a healthy range, pointing to growth in the weeks and months ahead," said economics professor Ernie Goss, who runs the business index for Minnesota and eight other Midwest states.

"The numbers that we're seeing for Minnesota and for the region are pointing to positive growth in the months ahead. But a bit slower that what we saw for the same period last year."

Goss said supply managers remain confident about the economy but less strongly as in April and May.