Governor’s Council of Economic Advisers

Derek Johnson, state economist with the governor’s Bureau of Finance and Management, and LRC Chief Fiscal Analyst Jeff Mehlhaff (left to right) present to the Revenue Projection Subcommittee in Pierre during the 2023 legislative session. (Makenzie Huber/South Dakota Searchlight)

Governor’s economic advisers caution against optimism in 2024

BY: - October 25, 2023

Members of a state economic advisory group expressed skepticism Wednesday about positive economic forecasting, citing high interest rates on debt coupled with a $1.7 trillion federal budget deficit. The Governor’s Council of Economic Advisors includes economists and businesspeople from around the state. The council reviews and critiques the Bureau of Finance and Management’s economic forecasts […]

The cost of holiday baking was higher in 2022, as prices for eggs were up 49.1% over 2021, according to the Consumer Price Index. (Photo by Brandon Bell/Getty Images)

Slower growth, sluggish borrowing expected to impact South Dakota economy

BY: - May 31, 2023

Higher interest rates, inflation, a cooling housing sector and a dip in consumer spending are expected to slow economic growth in South Dakota, according to the state Bureau of Finance and Management. The agency’s projections for two years of lower growth in the state came during Wednesday’s meeting of the Governor’s Council of Economic Advisers. […]