economy

ND doing better in a 'Goldilocks' economy

Jul 4, 2017
Creighton University

A “Goldilocks” economy.

That’s how Creighton University economics professor Dr. Ernie Goss characterizes the June Mid-American Business Conditions Index. That index includes North Dakota and eight other states.

Under his formula, an index over 50 indicates economic growth. For the region, the June index was 62.3 – up from May’s 55.5. For North Dakota, the index rose from May’s 53.9 to June’s 67.2.

Goss said he thought health care reform and tax reform were needed to get the economy moving.

Goss: ND economy 'stabilizing'

Dec 2, 2016
Courtesy Creighton University, Omaha

A Creighton University economics professor says North Dakota’s economy is stabilizing.

Dr. Ernie Goss publishes the monthly Mid American Business Conditions Index. He surveys purchasing managers in 9 states, including North Dakota. An index of 50 is growth-neutral; below that number indicates a contracting economy, while above it shows growth.

For November, North Dakota’s index was 47.6. That’s below growth-neutral, but an improvement from October’s 40.5.

Dave Thompson / Prairie Public

North Dakota Gov. Jack Dalrymple says despite a slowing of the oil and agriculture sectors, the state’s economy is doing very well.

Dalrymple says you can see that in the state’s population growth.

"We are now at a new all-time record level, 757,000 people," Dalrymple said. "We're still one of the fastest growing states."

And Dalrymple says an ever better indicator of that is the amount of job openings in the state right now.

Kocherlakota: Continued optimism in ND economy

Apr 8, 2015

Continued optimism.

The president of the Federal Reserve Bank of Minneapolis says that’s what he’s been hearing from North Dakota business leaders about the state’s economy. Narayana Kocherlakota met with some of those business representatives during a trip to Bismarck. He says there is confidence that – even though oil prices are soft, the long-term outlook is very good.

"This is not only an oil state; this is not only an ag state," Kocherlakota told Bismarck reporters. "It's a more diversified economy."

Strong economy means more bucks in the bank for ND

Jun 18, 2013

Another indication the state’s economy continues to be strong.

"We'll have a projected ending fund balance of $1.6 billion at the end of June," said state Office of Management and Budget director Pam Sharp.  She told the Legislature’s Budget Section – that number is about $190 million more than the projection made in early May – as the 2013 Legislative Session was ending.

"In April, we had exceptionally strong revenues come in," said Sharp. "Most of that was in individual income tax and sales tax. And in May, we also had strong revenues."

ND taxable sales remain strong

Dec 20, 2012

"We sound like a broken record up here."

Tax Commissioner Cory Fong says that’s because the state is again showing an increase in taxable sales and purchases. The latest report is for the third quarter of 2012 – encompassing the months of July, August and September. The total taxable sales and purchases for that three month period were $6.7 billion dollars – up more than $1.2 billion from the same quarter in 2011.

PERS to seek continuation of recovery program

Jul 17, 2012

The head of North Dakota’s Public Employees Retirement System says the 2013 Legislature will be asked to implement the second half of a pension recovery plan.

Sparb Collins says the 2008 downturn in the financial markets meant that 30 years out, the system would be out of money. Collins says PERS  proposed a recovery plan to the 2011 Legislature.