OR Revenue Forecast

Posted by Pam Leavitt on November 15, 2023

Today, the Office of Economic Analysis’ December 2023 Revenue Forecast was presented to the House and Senate Revenue Committees.  The report
indicated that Oregon’s economy is stabilizing, and the latest Consumer Price Index report found that inflation is cooling off.

Senate Majority Leader Kate Lieber (D – Beaverton & SW Portland) released the following statement in response:
“It’s great to see that Oregon’s economy is stabilizing and the pressure from inflation should be easing up. Now, we need to make sure this data matches up to reality for Oregonians in every corner of the state. In 2024, we will be laser-focused on the issues that seriously impact quality of life in Oregon, like building more housing Oregonians can actually afford, taking on the drug crisis to keep people safe and save lives, and making it easier to work and grow a business here.”

Some highlights include:

• Oregon’s experience during the current budget cycle is remarkably different from what we have experienced in the past
• During periods of nationwide economic expansion, Oregon has consistently outperformed other states due to above average population and job gains
• This cycle, Oregon has seen population growth stall, but has seen large economic gains due to more output and income per worker
• Productivity gains should persist going forward, with large capital investments planned among both public and private sources, and vibrant start-up activity

You can find the presentation on the Oregon legislative website here.

Posted in Advocacy on the Move.