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In today’s economic gloom, Bismarck is a beacon of light. So says an index by Moody’s economy.com. The site classifies the economic status of 381 metro areas based on sixmonth growth figures. Every metro in the country—save one—is classified as in recession.
The loner is Bismarck, which has been helped by rebounding energy prices in the nearby Williston Basin, not only helping private activity in that part of the state, but also propping up tax revenue at the state capital.
Bismarck is close to losing its special status; the online site lists the city as “at risk” for falling into recession and notes that slowing growth of personal income might pull the city into an official contraction, but one that would not likely be very deep, or prolonged.
Ron Wirtz is a Minneapolis Fed regional outreach director. Ron tracks current business conditions, with a focus on employment and wages, construction, real estate, consumer spending, and tourism. In this role, he networks with businesses in the Bank’s six-state region and gives frequent speeches on economic conditions. Follow him on Twitter @RonWirtz.
