A slowed economic recovery is on the horizon for Washington.
Last Friday, State Economist, Dr. Arun Raha, provided policymakers and others with an economic review that suggests while the economy is improving it is doing so at a slower pace.
Raha cites sustained high gas prices and disruptions to the manufacturing supply chain due to power shortages in Japan as the culprits. Despite these hiccups the recovery is continuing and may even pick up momentum in the second half of the year.
Policymakers in Olympia expect that revenues will be lower than projected when the revenue forcast is released on June 16, but believe the state has sufficient budget reserves to handle this.