Estimated growth in Kansas Personal Income revised downward

Posted by Scott Rothschild November 14, 2013 at 2:39 p.m.

Estimated growth in Kansas Personal Income revised downward

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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Cait McKnelly 4 months, 2 weeks 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.

Roland Gunslinger 5 months ago

When the Governor said "a shot of adrenalin" to the economy he MEANT to say "a shot of Ativan".

Barbara Gordon 5 months ago

I seem to recall someone paying Art Laffer a bunch of taxpayer money and telling us that giving the Kochs a 100% state income tax cut was going to be a "shot of adrenaline" for the economy. There was "dynamic models" and all sorts of things to tell us how awesome this would be for the state.

Shocking, shocking to hear that sequestration spending also had an impact. The next thing you'll tell me is that repeatedly turning away federal money was also a mistake.