Economic outlook revealed at annual College of Business conference

Global economic growth is slowing, the stock market is declining and there’s mixed consumer confidence. But that doesn’t mean another recession is on its way.

The state Economic and Revenue Forecast Council, which provides economic activity and state revenue forecasts that are used to build the state budget, is predicting that there will not be a recession through the council’s forecasting period, which extends to 2021, said Steve Lerch, the council’s executive director.

“We think the highest probability ... is a slow-growth scenario, but not a recession,” Lerch told attendees Wednesday at the Economic Outlook Conference at Central Washington University.

Read the rest of the story by Mai Hoang in the Yakima Herald-Republic.

February 11, 2016