The economy in the Upper Midwest is starting to change direction, picking up the pace and improving, according to the Federal Reserve Bank of Minneapolis.
The feds released a report that indicated the economy in the Upper Peninsula and other Upper Midwest areas is starting to strengthen, though at a moderate pace.
Excerpt:
In their midyear update, economists Toby Madden and Rob Grunewald said employment, consumer spending, manufacturing and home construction are up in the region, and that the Fed's forecast models predict the trends will continue into 2011.
Their report covers the Fed's Ninth District, which includes Minnesota, Montana, North Dakota, South Dakota, northwestern Wisconsin and Michigan's Upper Peninsula.
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Source: The Daily Reporter
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