Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Forecast council: modest economic gains and $175 million revenue uptick; tariffs remain key risk
Summary
The Economic and Revenue Forecast Council heard a February economic forecast showing modest GDP and employment improvements and roughly $175 million in revenue collections above the November outlook; the director warned a pending Supreme Court ruling on tariffs could create near-term uncertainty.
The Economic and Revenue Forecast Council received a February economic forecast on Feb. 3 that showed modest improvements in GDP and personal income alongside revenue collections about $175,000,000 higher than the council projected in November.
“For the record, Dave Wright, the executive director of the Economic Revenue Forecast Council,” Wright said as he opened the presentation, adding, “Overall, I think it's slightly good news.” He told members the higher revenue performance is already visible in current collections and will feed into the council’s revenue models ahead of the mid‑February update.
Wright listed the council’s headline point forecasts for 2026: U.S. GDP growth of about 2.1%, a U.S. unemployment rate near 4.7%, Washington employment growth around 0.4%, Seattle inflation roughly 2.9%, and personal income growth near 5%. He said taxable sales remain…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
