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“The mix of what’s being produced in Minnesota is changing,” Johnston said. “We’re able to take advantage of what’s going on in the Bakken” oil field.
In the rest of Minnesota, Mankato’s and St. Cloud’s economies grew slightly faster than the Twin Cities, and Rochester was not far behind. However, the economy in Duluth-Superior shrank in 2012 by 2 percent, or about $167 million. The weakness there came from declines in mining output and financial services.
Across the region, Bismarck, N.D., was the fastest-growing economy, followed by Peoria, Ill., and Fargo. The 10 largest U.S. metropolitan areas, accounting for 34 percent of national GDP, averaged 3.1 percent growth in 2012 after growing 1.9 percent in 2011.
Adam Belz • 612-673-4405 Twitter: @adambelz