Wyoming Economist: Recovery May Be Leveling Off
Senior Wyoming Economist Jim Robinson says Wyoming's economic recovery may have hit a plateau, for now, adding people shouldn't get overly excited about short-term fluctuations in oil and gas prices.
Robinson, in his recent ''Wyoming Insight" report for November, noted a big increase in natural gas prices occurring at the same time that crude oil plunged. Robinson says energy prices tend to be extremely volatile, especially during the winter months when oil and especially natural gas prices can be affected by the weather.
But he says the long-term trends for those products are far more important to the economy and to state revenues than short-term fluctuations. He also notes that even with the recent drop in oil prices, state sales and use tax collections for Fiscal Year 2019 (which started on July 1) are running 12 percent ahead of the same time last year.
Sales and use tax collections are often considered one of the best measurements of overall economic health. You can see the full Wyoming Insight report for November here.