(Saint Paul Pioneer Press (MN) Via Acquire Media NewsEdge) June 23--Minnesota's professional business services firms -- engineers, accountants, public relations companies -- are optimistic about the state's economy, according to a survey by the Department of Employment and Economic Development and the Federal Reserve Bank of Minneapolis.
Forty-four percent of the 241 firms surveyed expect their profits to increase in 2014, while 38 percent expect them to remain the same. Twenty-four percent of those surveyed expect to do some hiring.
"Minnesota's service firms directly benefit from a growing economy and as a result are strong indicators of business conditions and trends," DEED Commissioner Katie Clark Sieben said.
But 61 percent of business owners also said they expect the rate of inflation to increase in 2014, and 45 percent expected their costs to go up.
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