North Dakota

North Dakota:  The leading economic indicator for North Dakota slipped to a very healthy reading for April.  The Business Conditions Index from a survey of supply managers in the state slipped to 62.7 from March’s 63.0.  Components of the overall index for April were new orders at 61.3, production or sales at 58.6, delivery lead time at 62.8, employment at 74.2, and inventories at 56.8. “The gap between North Dakota’s growth and that of the region and the nation continues to widen.  Our surveys over the past several months indicate no change in that pattern as firms connected to agriculture and energy grow at very strong rates. Firms are not only adding to their payrolls, they are also increasing the hours worked for their current employees.  I expect the average work week among manufacturers in North Dakota to exceed that of every state in the region and nation,” said Goss.