HELENA (AP) – A University of Montana economist says the state’s economic recovery likely will happen without a boost in the construction industry.
Patrick Barkey, the director of UM’s Bureau of Business and Economic Research, is presenting a mid-year economic update across the state titled “Montana’s Construction-less Recovery.” The Independent Record reports (http://bit.ly/ppc8Hf) he was in Helena Monday.
Barkey says the bureau forecasts continued growth in household and corporate earnings, is optimistic about energy and agriculture, but expects a stagnant construction and wood product industry.
Barkey says fewer people moved from state-to-state last year, reducing demand for new housing.
Montana Building Industry Association executive director Dustin Stewart says housing usually leads the economy out of a recession. He says once the economy starts to recover, housing will follow.
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