Md. revenue board forecasts flat job growth, slowing income growth

The Maryland Board of Revenue Estimates is forecasting “much slower growth” for Maryland’s economy in the current fiscal year and beyond. The board projects growth of revenue to the state’s general fund to slow from 4 percent in FY 2012 to 2.8 percent in FY 2013.

The revised revenue estimates, included in a September 21 report to Governor Martin O’Malley, project annual employment growth in the state to “hover” around 1 percent through 2013 and for personal income growth to slow from 5.1 percent in FY 2011 to 2.8 percent in FY 2013.

To view September 21 Board of Revenue Estimates report to the Governor, click here.

 

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