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Article: THE MINNESOTA INVESTOR; Market offers reasons for optimism; A Twin Cities market veteran says the economy and stock market both appear to be healing, but there's a ways to go.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- July 12, 2009
- Author:
CopyrightCOPYRIGHT 2009 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: GENE WALDEN
Unemployment may still be rising, but other economic indicators point to a healing economy, according to Bill Frels, chairman and CEO of Mairs and Power Funds in St. Paul. How soon that might translate into a rising stock market, however, is difficult to gauge.
"There are no quick fixes," says Frels. "These problems have developed over a period of years, so it's going to take some time to work our way through them. On the other hand, we don't think the world is coming to an end."
Frels says the economic contraction may be waning. Real gross domestic product decreased at an annual rate of 6.3 percent in the fourth quarter of ...