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N.D. economic indicators level off after boom years

Falling agricultural prices were the biggest drag on North Dakota's otherwise strong recent economic performance, according to new analysis by Moody's Analytics.

Falling agricultural prices were the biggest drag on North Dakota's otherwise strong recent economic performance, according to new analysis by Moody's Analytics.

Mostly, the state has seen its economic indicators decline to normal, though healthy, levels, from its frantic growth over the recent boom years, according to the report.

"The pace of job growth has plateaued just below 3 percent year over year, after cooling from a high of nearly 10 percent in mid-2012," it said. "Personal income growth has similarly decelerated in recent months but remains roughly twice the national average."

Personal income growth is at 4.4 percent this year, from a high of 18.7 percent in 2012.

Potential pitfalls for growth identified by the report were strained energy infrastructure, including roads, rail lines and pipelines, as well as uncertainty over federal spending.

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However, the report summed up its outlook by stating, "North Dakota is in an enviable position and will outperform the U.S. for the next several years."

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