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Publications

Monthly Updates

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 82.33.040 requires the agency to provide revenue collection information the first business day following the conclusion of each collection period (currently 10th of each month, however this will be changing in the fall of 2017).

This page will include these monthly reports for the current forecast period. The forecast is revised each quarter.


Highlights bar

  • U.S. labor market added 138,000 net new jobs in May.

  • U.S. real GDP in the first quarter was revised up from 0.7% to 1.2% (SAAR).

  • Nationally, light vehicle sales are slowing.

  • Seattle area consumer price inflation remains well above the national average.

  • Washington exports were down because of a decline in transportation equipment exports.

  • Major General Fund-State revenue collections for the May 11 - June 10, 2017 collection period came in $22.2 million (1.0%) above the March forecast.

  • Cumulatively, collections are now $66.6 million (1.4%) higher than forecasted.

  • The forecast included $10.5 million in large refunds that have yet to occur. Adjusted for these refunds, which are still expected to occur at a later date, collections are $56.1 million (1.2%) higher than forecasted.

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