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The Petri Dish
June 16, 2009

 
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A jumble of news preceding economic forecast


Posted at 10:21 am by Jerry Cornfield

The latest forecast of the state's economic future will be issued Thursday morning.

With all the fiscal factoid coming out in recent days, this prediction should arrive with an index of caveats and disclaimers.

There's bad news like rising unemployment and not as bad news about revenue collections as noted by The Olympian's Adam Wilson.

There's a lukewarm market response today to a battery of data including an uptick in housing starts and building permits as well as higher oil prices and lower industrial production.

Arun Raha, the state's chief economist, will try to make sense of it all in the forecast he delivers Thursday, provided a preview of the situation a couple weeks ago.

Most folks will be looking for news on whether the previously estimated $9 billion shortfall will grow a little, a lot or not at all.

The report is due out at 10 a.m.
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