MISSOULA (AP) – Economic forecasters have throttled back their predictions for growth in Montana because of the downturn in commodities in the past year.
The Montana Chamber of Commerce Foundation presented its 10th annual Economic Update Series in Missoula last week.
Patrick Barkey of the University of Montana says the commodity boom is over.
The prices for many commodities produced in Montana all are well below their high, and the price of barley, wheat, oil and copper are nearing all-time lows.
The Missoulian reports that in 2014, economists predicted a 3 percent growth rate for 2015 and a 3.2 percent growth rate in 2016.
But Barkey says the new forecast is for a more modest 2.7 percent growth rate this year and a 2.6 percent growth rate next year.
Source: Associated Press
