42 Quotes by Ernie Goss

After growing at a very strong pace in 2005, we are now detecting a slowdown in the pace of growth. Just as nondurable goods manufacturers reported improving economic conditions, durable goods producers detailed a pullback in economic conditions for the month. I expect this slower pace of growth to continue into 2006.

The most recent rate increases, and a rate hike at its next meeting, in my judgment will slow growth to an unacceptably low rate for the region and the nation.

Despite the announced closure of the two Tyson plants, Nebraska's confidence index stood at a regional high of 70.2. Certainly, the rising fortunes of the state's ethanol and renewable energy industry have buoyed businesses in this industry or firms with close ties to this industry.

As in much of the region, weather played an important role in pushing the state's index higher. Businesses in South Dakota reported undertaking and completing construction projects for the month that would ordinarily have been sidelined until spring.

There's every reason to have some concern there.

As we have seen in the past few months, our inflation gauge, and most national inflation indicators, point to somewhat lower inflationary pressures ahead.

For example, greater reliance on ethanol by the U.S. will make many areas in the region clear economic winners.

For 2006, Minnesota's big economic stories will be problems related to the continuing cutbacks in the U.S. auto industry, a turnaround for the telecommunications industry, and finally a weakening of Minnesota's construction industry. Nonetheless, our survey points to still solid growth for the first half of 2006.

It's going to be stronger in the first quarter and in the end of the second quarter. It's going to weaken as higher interest rates set in.