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Tag: Washington state economy

‘Sharp slowdown’ in WA as recovery struggles

‘Sharp slowdown’ in WA as recovery struggles

A new state report says tax collections were down $70 million below forecast levels in May, due to a “sharp slowdown” in the economy.  Still, even accounting for that, total collections since the March forecast are up $93 million, thanks to one-time collections under the tax “amnesty” program. Arun Raha, the state’ s chief economist and director of the Economic and Revenue Forecast Council, said in an update that the national economy has “entered another soft patch in a recovery…

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Report: WA recession over, recovery `tepid at best’

Report: WA recession over, recovery `tepid at best’

Washington’s economy is officially out of recession  — and state revenue is even growing a tiny bit. But the recovery, mirroring the national scene, is “painfully slow” and “tepid at best,” said a new Columbus Day report released by the state Economic and Revenue Foecast Council. The state’s chief economist, Arun Raha, announced that tax collections for the past month have grown $2.5 million above the September forecast.  In a two-year budget of $30 billion, that’s peanuts, of course, but…

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