Visa and NFIB Provide Minneapolis-Area Businesses with Insights into the Economy

MINNEAPOLIS, Minnesota Florida, May 7, 2015 — Minneapolis-area, small-business owners were treated to a look into the future of the economy by two prominent pulse-takers, economists Wayne Best of Visa Inc., and William Dunkelberg of the National Federation of Independent Business (NFIB).

Joined by Congressman Erik Paulsen (MN-03) at the Marquette Hotel, the two economists shared insights and research highlighting what small business owners and consumers are actually saying – and doing. 

“Key macro-economic indicators suggest that the U.S. economy is in better shape than at any other time in many years,” said chief economist for Visa Inc. Wayne Best. “We are seeing the strongest job growth since 1999 and consumer optimism is at its highest point in the last decade, due in part to millennials growing share of working-age population and household formation. Here in Minneapolis and its surrounding cities, the economy weathered the recession and rebounded quickly. Minneapolis has been, and will continue to be a great place to do business.”

For his part Dunkelberg, whose monthly optimism index of small-business owners is considered one of the nation’s top economic barometers, and which he has been producing since 1974, said the small business economy continues to improve, finding its way back to more normal levels of employment and sales. “However, economic growth continues to be stifled by elevated levels of uncertainty and the heavy hand of government both at the federal and state level,” said Dunkelberg. “Growth prospects for small businesses this year will remain muted, no recession, but not a lot of strong economic growth.”

This event is part of an ongoing tour presented by the NFIB and Visa to provide small businesses with insights into local and national economic trends and designed to help them make more informed decisions about their businesses.