BILLINGS – The Montana economy has shrunk for the second straight quarter as oil and gas, timber, mining, agriculture and transportation all reported losses.
The Billings Gazette reports that according to a Bureau of Economic Analysis report issued this week, drops in industry pulled Montana’s gross domestic product into negative figures for the last three months of 2015 as well as the first quarter of 2016.
Bureau of Economic Analysis spokesman Thomas Dale says Montana was particularly affected by dips in transportation and mining.
In the final quarter of 2015, the state’s gross domestic product shrank 1 percent. It contracted 0.9 percent in the first three months of 2016.
According to the report, transportation declined as a result of slowing coal production. In Montana, coal is 71 percent of BNSF’s shipments.
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