Publications
In order to promote the free flow of information the agency distributes a monthly Economic and Revenue Update.
The staff of the Economic and Revenue Forecast Council prepares a publication to update the members of the Council and the Work Group on current conditions.
RCW 82.33.040Â requires the agency to provide revenue collection information the first business day following the conclusion of each collection period (10th of each month).
This page will include these monthly reports for the current forecast period. The forecast is revised each quarter.
- U.S. labor markets added 161,000 net new jobs in October; average hourly earnings were 2.8% above their year-ago level.
- U.S. real GDP growth for the third quarter of 2016 grew at a 2.9% (SAAR) rate.
- U.S. residential home sales and building permits were stronger in September while housing starts slowed.
- Washington housing construction was weaker than expected in the third quarter but home prices continue to rise rapidly.
- Washington exports are down over the year but may be turning around.
- Major General Fund-State revenue collections for the October 11 - November 10, 2016 collection period came in $101.8 million (6.8%) above the September forecast.
- The forecast expected $15.3 million in large refunds to occur during the period. Had the refunds occurred as forecasted, collections would have been $86.5 million (5.8%) higher than forecasted.
- Cumulatively, collections are now $132.3 million (4.7%) higher than forecasted. Had the abovementioned refunds occurred, collections would have been $117.0 million (4.1%) higher than forecasted. The refunds are still expected to occur at a later time.
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