Economic & Revenue Forecast - growing, but at slower pace
The Oregon Office of Economic Analysis released its quarterly Economic and Revenue Forecast this week.
Economist Josh Lehner explains in his blog that Oregon is still in the economic sweet spot, despite slower in-migration, a tighter employment market, and fading federal stimulus.
"Growth is strong enough to keep up with a growing population but also deliver economic and income gains to Oregonians. This pattern is expected to continue until the next recession, whenever it comes," said Lehner.
Lehner said most economic indicators are going in the direction of previous forecasts.
When it comes to state tax revenue, Oregon saw record tax collections during the recent peak of tax season.
Part of this may be people trying to figure out the changes in federal tax policy and making advanced tax payments.
As a result, Oregon's tax kicker is coming into play at a projected record of $1.4 billion.
To read Lehner's blog, click here.