The state Economic and Revenue Forecast Council just released its October update on revenue collections for the past month, and it shows a modest $36.6 million gain above September’s forecast. But council executive director Steve Lerch is qualifying that news by saying the gain was tied to the timing of tax payments and may be partly erased next month.
See his full report here and a news release from the agency here. In the full report, Lerch points out that some sectors of the state economy are doing well, but others not so much – and job growth remains a concern as jobless rates have risen.
On the other hand, the beleaguered housing industry is beginning to turn around: