US industrial production increased 0.5% in November as output at the nation’s factories reached the highest level since January 2019. The November gain followed an even larger 1.7% increase in October which had represented a rebound following a 1% drop in production in September. The September decline reflected severe supply chain problems.
New home construction in the U.S. rebounded 11.8% in November, as strong demand continues to boost builder confidence even with the slower winter season approaching. The double-digit percentage increase last month left home construction at a seasonally adjusted annual rate of 1.68 million units, an 8.3% increase from the rate at this time last year.
A new monthly survey of bankers in rural parts of 10 Plains and Western states shows the economy remains strong in the region, but some bankers said they are worried about how inflation will affect farmers. The overall economic index slipped from November’s 67.7 to 66.7 in December but any score above 50 suggests growth. The report covers North Dakota…South Dakota…and Minnesota.
North Dakota’s eight commercial airports posted 83,429 passenger boardings in November. That’s a 95% increase from November 2020 but down 12.5% from the 2019 pre-pandemic boarding counts. North Dakota’s largest commercial service airport in Fargo set its best November on record with 37,911 passenger enplanements. The Grand Forks Airport had 6,349 passengers go through the gates last month. The 62,079 boardings to date in 2021 are nearly 20,000 higher than for all of last year at the GFK.
The Minnesota Department of Employment and Economic Development (DEED) awarded grants totaling $2,425,000 to 14 organizations representing communities throughout Minnesota to increase the supply of quality child care providers in order to support regional economic development. Among the organizations slated to receive funding: Prairie Pines Childcare Center, Fosston, $240,000… Northwest Minnesota Foundation, Bemidji. $224,000…City of Warren, Warren, $210,000…Greater Bemidji, Inc, Bemidji, $140,000.00
Mark Watne of Velva was named a ninth year as North Dakota Farmers Union president by more than 500 members attending the organization’s 95th annual state convention. In other elections, Bob Kuylen of South Heart was reelected vice president. Jon Iverson was reelected District 1 director for Benson, Cavalier, Grand Forks, Nelson, Pembina, Ramsey, Towner and Walsh counties.
Xcel Energy announced plans today to recognize Ben Fowke, executive chairman at Xcel Energy, by renaming the Grand Meadow wind farm in southern Minnesota the Ben Fowke Wind Energy Center. Fowke served as chief executive officer for a decade – from 2011 to 2021. Grand Meadow, a 100-megawatt wind farm, went into service in 2008. Fowke’s last day at Xcel Energy will be December 31, 2021.
Target is heading into the final stretch of the holiday season with lots of momentum. CEO Brian Cornell reports that holiday sales have continued to stay strong even amid worries about the new omicron variant. Like its big box rivals, Target has been able to defy industrywide challenges like labor shortages, inflation and supply chain snarls as the discounter keeps its shelves full and arms itself with a full seasonal staff. The
A big postal rate increase over the summer hasn’t stopped catalog retailers from stuffing mailboxes this holiday season. The U.S. Postal Service says more than 300 million catalogs flooded into people’s mailboxes last month and that overall the number of catalogs has grown 12% over last year. The boost continues a positive trend for catalogers who’re defying those who predicted their demise in a digital world.
Subaru is recalling about 200,000 vehicles in the U.S. because a chain in the transmission can break, causing a loss of power. The recall covers certain 2020 Legacy and Outback vehicles, as well as some 2019 and 2020 Ascent SUVs. Subaru says in documents posted Wednesday by U.S. safety regulators that a programming error in the transmission control computer can let the clutch engage before the drive chain is clamped down.
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