Growth in North Dakota economy appears to be stabilizing

BISMARCK, N.D. (AP) — Officials say North Dakota's economy remains strong but appears to be entering a stage where growth is stabilizing.

State Budget Director Pam Sharp and an executive with Moody's Analytics told lawmakers on Tuesday that revenue during the current two-year budget cycle is now expected to be about $41 million more than the forecast released late last year. But in the next two years, revenue is now expected to be about $45 million less than the earlier forecast.

Officials say a big reason is fewer oil drilling rigs in the western oil patch.

Gov. Jack Dalrymple says the state is still in strong fiscal shape.

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