Grow Minnesota! Quarterly Economic Snapshot: Spring 2022
May 11, 2022
The Minnesota economy continued to expand in the fourth quarter of 2021 and first quarter of 2022.
State GDP and exports surpassed pre-pandemic levels in 2021 and have experienced growth over consecutive quarters. New business applications and venture capital investment surged during the pandemic and remain high in the early months of 2022. These are positive signs of investment and productivity in Minnesota’s economy.
However, notable challenges and uncertainties cloud the state’s outlook going forward.