A new report this week indicates tax collections climbed $36.6 million, or 3.4 percent, more than expected during the past month but it’s likely a mirage.
The report from the state’s Economic and Revenue Forecast Council, found here, indicates most of the growth is due simply to the timing of tax collections and will be at least partially reversed next month.
“It’s likely that next month’s collections will fall short of the forecast, but the cumulative variance might still remain positive,” the report reads.
The report highlights growth in the manufacturing sector and an improving housing sector.
“We continue to expect the state of Washington to outperform the U.S. economy however the recovery will continue to be slow by historical standards and unemployment will decline only gradually,” the report reads.