Today’s revenue collections report, though possibly foreshadowing a softening, shows receipts continuing to track the June forecast. The press release has the yin and yang. It’s a good news/bad news thing.

Major General Fund-State (GF-S) revenue collections were $45.0 million (3.8%) lower than the June forecast, but cumulative receipts for the last two months are still $22.0 million (0.9%) higher than the forecast.

As anticipated in last month’s report, revenue from the July 11 – August 10, 2012 collection period came in below the June forecast after last month’s high positive variance. Cumulatively, receipts are now much closer to their forecasted value.

While this is better than I had expected, I still have some concern about the coming month. Higher-than-expected June followed by lower-than-expected July puts all the pressure on August. This USA Today piece outlines, again, the familiar risk factors.

The Senate Democratic blog goes with the header, WA economy meeting expectations. The question is: will it continue to do so?