New (Preliminary) Economic Forecast for Washington

The Economic and Revenue Forecast Council has updated its forecast, as we do every quarter. This is the preliminary forecast. The final will be done in a couple of weeks when we get updated numbers from Global Insight, our vendor for national data. We modify that with specific data from Washington, and change a couple of parameters in the model to make it work better for our purposes. These are described in the text of the report. It’s worth reading the summary for some insight into where our economy is going.

In short, we’re pretty much on track for a normal forecast. Of course, I am not an economist (I do get to play one on TV) so I can’t predict exactly what this will mean for our revenue forecast, but I don’t expect too much change as a result.

http://www.erfc.wa.gov/forecast/documents/p0512.pdf

 

About the Author

Ross
I am the Director of the Department of Early Learning for Washington State. I formerly represented the 48th Legislative District in the State House of Representatives, chairing the Appropriations committee and spent many a year at Microsoft.