Oregon Revenues Tick Up Slightly
Oregon's economy is still going "full throttle." That was the word Wednesday from state economists as they unveiled the latest forecast of state revenues.
The outlook shows a slight uptick in anticipated revenue since the last forecast three months ago -- about $56 million. That’s up about one third of a percentage point from the last forecast.
But Senior Economist Josh Lehner said the current growth rate will probably slow considerably over the coming year.
"Right now we're still getting some of the cyclical boost coming out of the recession,” he said. “We're still getting some of the catch-up growth that we need to make the economy back to where we were a decade ago. But once we hit that full employment level, we're going to slow down to some sort of sustainable growth rate moving forward."
Legislative leaders reacted to the news with cautious optimism. Oregon lawmakers will get the next update on state revenues in February during their 2016 legislative session.