Q & A with Montana's top economists & industry experts.

• Position: ECONOMIC OUTLOOK

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THE ECONOMY PATRICK BARKEY & PAUL E. POLZIN

Q. What kind of year was 2015 for the Montana economy?

It was a pretty good year overall. Income growth was reasonably strong, and wage and salary growth will come in around 4 percent, corrected for inflation. That's quite an uptick from 2014.

The big story is Montana's economy coming into balance; both geographically and across industries. Three or four years ago, commodity prices were high and oil was booming. That, along with high agriculture prices, made for faster growth in rural counties, primarily eastern counties, rather than in bigger cities. At the same time consumer spending was weak and important industries for western Montana, including wood products and new home construction, were depressed.

The recent growth patterns look more like those that pre-dated the commodity boom. The more populous western counties are growing again, as migration trends resume and income gains make consumer spending stronger. Home building has modestly recovered and industries like health care and professional services have picked up their pace.

Q. Which Montana communities will be the fastest growing and which ones may face challenges in the future?

Gallatin County is projected to be the fastest growing community between 2016 and 2019. A strong high-tech sector, a fast recovering construction industry, increasing enrollment at Montana State University and Bozeman's continuing growth as a regional trade center, have all contributed to its robust performance. Flathead County will be second, driven by construction, increases in non-resident travel, continued growth as a regional trade and service center, and stability in the wood products industry.

At the other end of the spectrum are Ravalli County and Cascade County, which may face economic headwinds. Ravalli County suffered significant declines in construction and the log home industry. Construction has still not improved. But several new manufacturing firms and expansions at existing companies have contributed to a recent upturn in Cascade County. A new industrial park has opened and a number of new tenants have been announced.

AGRICULTURE GEORGE HAYNES

Q. Why have grain and cattle prices fallen?

Winter and spring wheat prices fell this past year, below long-term historical averages, due to the high stocks of wheat, which were 14 percent higher than a year ago. And projected wheat stocks are at their highest since 2009-10. Wheat exports have also lagged because of the strength of dollar and abundant supplies in foreign markets. Exports of wheat have been the lowest we've...