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Estimated growth in Kansas Personal Income revised downward
Posted by Scott Rothschild
November 14, 2013 at 2:39 p.m.Advertisement
Topeka — When state officials met last week to revise revenue projections, they also revised the economic forecast for Kansas, and it wasn't good news.
Kansas Personal Income for this year is now expected to increase 2 percent over the 2012 level, which is down from the April estimate of 3.1 percent.
KPI growth for 2014 was projected at 3.5 percent, down from 4 percent forecast in April. The estimating group projected KPI to grow 4.4 percent in 2015.
U.S. Personal Income is expected to increase more than Kansas' all three years: 2.1 percent in 2013; 4.6 percent in 2014; and 5.1 percent in 2015.
"Although the U.S. economy is continuing its recovery from the Great Recession, the forecasted rate of growth remains slow," the memo from the Kansas Legislative Research Department and Kansas Division of the Budget said. "The impact of reduced federal spending as a result of the sequestration and additional uncertainty from ongoing policy stalemates in Washington have combined to provide a drag on growth," the memo said.
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Comments
Bob Forer 3 years, 9 months ago
Must be a communist plot. Our dear leader governor assured us that his income tax cuts for the wealthy would revitalize the economy.
Steve King 3 years, 9 months ago
You just have to give it more time to trickle down...
Cait McKnelly 3 years, 8 months ago
And people want to know just why Brownback might be a one termer,especially in a red state,
If Paul Davis doesn't bang the heck out of this drum, he needs to go back to politicians school.
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