Goss Predicts Growth for State Economy
Creighton University Economics Professor Ernie Goss says his latest survey of purchasing managers in Wyoming shows continued growth for the state economy. Unfortunately for the overall economy and state revenues, however, the outlook for natural gas prices is somewhat murky. Goss says his economic conditions index score for Wyoming for April was 68.5. Even though that’s a slight decline from the March score of 70.2, Goss still characterizes the April score as ”very strong”. Anything above a score of 50 on Goss’s scale predicts economic growth. Goss says the slight decline in the April score is mostly because of slowing national and international economic activity. But Goss says even though he expects natural gas prices to go up in coming months, it’s not at all clear that they will increase enough to significantly improve state revenues via severance taxes. Goss says it would be helpful in terms of natural gas prices if more methane could be exported. Natural gas prices in recent weeks have been at or below $2.00 per mcf.