U.S. Economic Outlook Improves - KULR8.com | Montana's News Leader | Billings, MT

U.S. Economic Outlook Improves

Posted: Updated:
BILLINGS, Mont. -

There's good news for the U.S. economic outlook. According to the Moody's Investor Service, the U.S. regained its AAA credit rating, which means it makes it cheaper for the government to borrow money. Local MSU-Billings economist Dr. Scott Rickard says he's not surprised by the news.

"We're stable. We're showing that we're taking things seriously. We are trying to at least grow and our growth is at least steady and it's been going on for long enough," said Dr. Rickard.

A little closer to home, the local housing market is doing fairly well for itself too, said local realtors.

"We have a very healthy real estate market in Billings. All price ranges are selling," said Prudential-Floberg realtor Daren Folsberg.

And that upward trend has been true for a while,but it's gotten even better with time as the city has grown.

"We're definitely on a pickup. You know our statistics, we're 11 percent higher in our sales year to date this year than we were last year," said Folsberg.

Even with some concerns over ticks up in mortgage rates, both Dr. Rickard and Folsberg are not all that concerned yet.

"They've been fluctuating the last several weeks and we're still near all time lows," said Folsberg.

All in all, both the national and local economies are on the upswing and look like they'll be going on strong.

The latest unemployment numbers were also released today showing the state held steady at 5.4% for the month of May, which is still well below the national unemployment rate of 7.6%.