Minnesota is poised for continued economic growth, though there is concern about its biofuels industry, the latest Creighton University economic index shows.
Creighton's Minnesota business conditions index touched 70.1 in June, the highest of any of the Midwest states Creighton follows, university researchers said Tuesday.
Index readings above 50 in the monthly survey of business supply managers indicate growth over the next three to six months. June was the 19th straight month Minnesota's index has been above 50, said Creighton University economist Ernie Goss, who conducts the survey.
"Minnesota is continuing to grow in terms of manufacturing and those businesses linked to manufacturing," he said. "Construction continues an expansion in Minnesota, and that's obviously very important to the growth prospects of Minnesota, and I'm expecting that to continue in the weeks and months ahead."
Minnesota's biofuels sector, however, is at risk because China stopped importing a byproduct of ethanol production used as animal feed over concerns about bioengineered corn, he added.