This morning the Washington Economic and Revenue Forecast Council released the June state revenue and economic forecast. The forecast estimates that Washington will receive $203 million less through June 11 than was forecasted in February.

Washington State Economist Arun Raha stated that the decline in expected state revenue is a result of disappointing employment reports in May and housing data that shows a significant pullback in activity following the expiration of the home buyer’s tax credit.  In the end it appears that the recovery for the state will be slow and uneven.