Office of Planning & Budgeting

State Legislature


November 21, 2023

November Revenue Forecast Revised Upward for Current Biennium

The Washington State Economic and Revenue Forecast Council (ERFC) released its November revenue forecast on Monday, November 20, 2023. Revenue projections were again revised upward for the current 2023-25 biennium as well as for the 2025-27 biennium. In September, we highlighted that experts expected revenue to increase over recent projections for the 2023-25 and 2025-27…


October 4, 2023

September Revenue Forecast Revised Upward for Current Biennium, Returning to Previously Projected Levels Despite Slowing Growth

The Washington State Economic and Revenue Forecast Council (ERFC) released its September revenue forecast on Tuesday, September 26, 2023. Revenue projections were again revised upward for the 2023-25 and 2025-27 biennia, as well as for the 2021-23 biennium that ended on June 30. In June, we highlighted that experts expected revenue to increase slightly over…


June 28, 2023

June Revenue Forecast Projections Revised Slightly Upward for Upcoming Biennium, Despite Slowing Growth

The Washington State Economic and Revenue Forecast Council (ERFC) released its June revenue forecast on Tuesday, June 27, 2023. Revenue projections have been revised slightly upward for the current biennium as well as for the 2023-25 and 2025-27 biennia. In March, we highlighted that experts expected revenue to decrease over previous projections for the 2023-25…


March 22, 2023

March Revenue Forecast Projections Revised Downward for Upcoming Biennium

The Washington State Economic and Revenue Forecast Council (ERFC) released its March revenue forecast on Monday, March 20, 2023. In November, we highlighted revenue projections for the 2023-25 biennium and summarized experts’ cautions regarding slowing economic growth. These concerns were associated with rising inflation and interest rates, in addition to geopolitical factors including the war…


November 22, 2022

November Revenue Forecast Reports Increased Projections for the Current and Upcoming Biennia, While Economic Growth Continues to Slow

The Economic and Revenue Forecast Council (ERFC) released its November revenue forecast on Friday, November 18, 2022. In September’s forecast, we highlighted revenue projections for the 2023-25 biennium and summarized experts’ cautions towards slowing economic growth. This was associated with rising inflation and interest rates, in addition to geopolitical factors including ongoing supply chain disruptions….


September 29, 2022

September Revenue Forecast reduces projections for the 2023-25 Biennium, as growth slows more than anticipated

Overview The Economic and Revenue Forecast Council (ERFC) released its September revenue forecast on September 21, 2022. We noted in our previous blog post that the June forecast showed continued economic growth, but warned growth was slowing in the face of rising inflation and interest rates, as well as continued supply chain disruptions and other economic challenges….


June 28, 2022

June Revenue Forecast Increased by $1.5 billion for the Current Biennium, but Cautions that Growth is Slowing

Overview The Economic and Revenue Forecast Council (ERFC) released its June revenue forecast on June 22, 2022. We noted in our previous blog post that the February revenue forecast showed continued economic growth, despite several challenges posed by emerging COVID-19 variants, supply chain disruptions, and rising inflation. COVID-19 case rates in Washington have since declined and remained…


February 17, 2022

February Revenue Forecast Reflects Sustained Growth as Legislature Finalizes their Supplemental Budget Proposals

The Economic and Revenue Forecast Council (ERFC) released its February revenue forecast on February 16, 2022. We noted in our previous blog post that the November revenue forecast showed continued economic growth, despite rising COVID-19 cases, supply chain disruptions, and rising inflation. In Washington state, the COVID-19 case rates are now steadily declining from the recent surge…


December 1, 2021

November Revenue Forecast Shows “Stronger than Expected” Revenue Collections Despite Continued Challenges

Overview The Economic and Revenue Forecast Council (ERFC) released its November revenue forecast on November 19. We noted in our previous blog post that the September revenue forecast showed continued economic growth in the face of rising COVID-19 cases and hospitalizations. In Washington state, the COVID-19 case rate is down from the recent peak in…


September 29, 2021

September Revenue Forecast Shows Overall Continued Economic Growth

Overview The Economic and Revenue Forecast Council (ERFC) released their September revenue forecast on September 24. The last revenue forecast, released in June, showed promising signs of a full economic recovery. At that time, the number of COVID-19 cases in Washington state was declining. However, as noted in our previous blog post, risks remained and…



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