ND Revenue Outlook
Doug Barrett | Sep 14, 2018 AT 10:13 am
An economic consultancy hired by the North Dakota Legislature predicts the state's economy next year could surpass the record set in 2014.
Economist Jim Diffley of IHS Markit told the Legislative Revenue Advisory Committee Thursday that the state's economy is expected to reach 6 percent growth in 2019.
Diffley told reporters the growth would increase North Dakota's gross domestic product to $61.9 billion, up $1 billion from 2014. GDP measures total economic production.
The eight-member panel that includes Republican and Democratic leaders hired the firm last year to give the Legislature a second opinion on state revenue.
The consultancy's general fund revenue forecast for the current two-year budget cycle and the next are tracking consistent with earlier state predictions.