Wednesday, May 11, 2011

Mixed news in latest revenue update

This month's Economic & Revenue Update is out. According to our chief economist, the country's recovery has hit a "road bump" thanks largely to rising gas prices and slow GDP growth.

For Washington state, the news is (very) slightly better. Our state economy is still growing, but a bit more slowly than the past couple months. Revenue for April came in $157.7 million higher than projected in March, but that was due to larger-than-expected tax amnesty receipts. Without that boost, we would have actually collected $26.6 million less than projected.

You can read more here.