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State financial picture brightens

Posted: Thursday, May 29th, 2014

Economists painted a brighter financial outlook for Oregon this week courtesy of an improving economy that is projected to pump more cash into state coffers.

A quarterly revenue forecast given to state lawmakers Wednesday estimated Oregon is going to collect about $54.5 million more than was predicted three months earlier.

The forecast for the 2013-15 fiscal periods comes from economists Mark McMullen and Josh Lehner of the Oregon Office of Economic Analysis.

“In Oregon, the economic acceleration the state experienced in 2013 has continued into early 2014,” according to an executive summary that accompanied the forecast. “Oregon was spared some of the weather-related problems seen elsewhere in the U.S.

“Statewide job growth is currently at the strongest pace since 2006. This improvement was largely expected as the two major weights on the economy lifted: housing and government. Growth statewide picked up primarily due to regions outside of the Portland Metropolitan Area joining in the recovery.”

For the complete article see the 05-30-2014 issue.

Click here to purchase an electronic version of the 05-30-2014 paper.

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