Will the Regional Economy Strengthen in 2006?

01/23/2006

Will the regional economy continue to strengthen in 2006? According to the Minneapolis Federal Reserve Bank, the answer is yes.

The Fed reports that despite higher energy and materials prices and a likely slowing in the home building and residential real estate market, the region’s district economy will “continue to stretch its legs in 2006.”

In fact, the organization’s forecasting models and business outlook poll results point to increased employment in 2006 (albeit at slightly slower rates than in 2005), relatively low unemployment rates, and moderate wage growth.

For more information, check out the Fed’s District Forecast and its Business Outlook Poll.