Montana’s economy was among the top in the country in 2021 for growth, at 6.7%, adjusted for inflation.
Gov. Greg Gianforte highlighted the state’s economic growth Monday using data compiled by the U.S. Bureau of Economic Analysis.
The state’s gross domestic product saw the most growth in the first quarter of 2021, then slowed down in the second half of the year.
The data show finance and real estate to be the fastest growing sectors in Montana. The tourism and leisure industries bounced back after the COVID-19 pandemic halted normal life in 2020. Those industries grew by 22% in 2021.
Gianforte said in a statement that Montana is a “great place to live, work, raise a family, and do business.”
While the state’s economy is growing, economists forecast that housing prices will continue to rise as construction of new homes fails to keep up. The state also faces a labor shortage.
