Statewide Business Pulse

Workforce ▲
Agriculture ▲
Energy ▲
Transportation ▲
Construction ▬
Retail ▲
Technology ▲
Healthcare ▲
Outdoor Economy ▬
Government / Nonprofit ▲

Legend: ▲ new signal · ▬ stable

Today’s Signals

• The U.S. Department of Agriculture reports planting intentions and input concerns rising, with fertilizer availability becoming a growing issue alongside cost pressures.
Source: https://www.usda.gov/news

• The Bureau of Economic Analysis reports GDP growth slowing slightly, indicating continued expansion but at a more cautious pace.
Source: https://www.bea.gov/news

• The U.S. Census Bureau shows business investment holding steady, though many firms are delaying larger capital expenditures.
Source: https://www.census.gov/economic-indicators

• Global fertilizer markets remain tight due to export restrictions from Russia and China, continuing to impact availability and pricing heading into spring.
Sources:
https://www.reuters.com/business/russia-imposes-restrictions-some-nitrogen-fertiliser-exports-2026-03-24/
https://www.reuters.com/world/asia-pacific/china-restricts-fertiliser-exports-further-crimping-war-tightened-supply-2026-03-19/

Pattern Watch

The signal today is “slower growth with rising input pressure.”
The economy is still moving forward, but businesses are navigating tighter margins driven by labor, capital costs, and now ag input constraints.

Industry Briefs

Agriculture ▲

Fertilizer supply remains tight globally, with export restrictions and disruptions affecting availability during planting season.

Sources:
https://www.reuters.com/business/russia-imposes-restrictions-some-nitrogen-fertiliser-exports-2026-03-24/
https://www.reuters.com/world/asia-pacific/china-restricts-fertiliser-exports-further-crimping-war-tightened-supply-2026-03-19/

Why it matters
Producers may face:

• higher costs
• supply uncertainty
• potential yield impacts

Workforce / Labor ▲

Hiring demand remains elevated, but labor shortages continue to limit growth across sectors.

Retail ▲

Consumer spending remains steady but cautious, with continued price sensitivity shaping purchasing decisions.

Source: https://www.census.gov/retail

Energy ▲

Energy demand remains strong heading into spring, supporting continued activity across fuel and industrial sectors.

Finance / Lending ▲

Economic data shows businesses are holding steady but cautious, with delayed expansion tied to borrowing costs.

Source: https://www.bea.gov/news

Construction ▬

Construction activity remains stable, though dependent on financing conditions and workforce availability.

Technology ▲

Investment in AI and digital infrastructure continues to drive long-term project planning and regional interest.

Healthcare ▲

Workforce shortages continue to impact service capacity, particularly in rural areas.

Transportation / Logistics ▲

Freight demand is expected to increase with seasonal movement and agricultural activity.

Government / Nonprofit ▲

State and federal programs continue supporting workforce, infrastructure, and economic development efforts.

Outdoor Economy ▬

No new major developments surfaced today.

Two Numbers & a Nudge

Two Numbers

• Global fertilizer supply tightening — affecting availability and pricing
Sources:
https://www.reuters.com/business/russia-imposes-restrictions-some-nitrogen-fertiliser-exports-2026-03-24/

• Slowing but positive GDP growth — indicating continued expansion
Source: https://www.bea.gov/news

Nudge

If your business depends on agriculture or supply chains, now is the time to plan for cost volatility and availability risk, not just price increases.

Headwind / Tailwind

Headwind
Rising input costs and labor shortages are tightening margins.

Tailwind
Economic activity remains positive, with continued demand across sectors.