Economist says Miss. may not meet revenue estimate for ‘O8

The Sun Herald, 1/18/8

Legislative leaders were told Thursday that Mississippi’s economic outlook shows slow growth, and it’s possible that state tax collections will be lower than expected this year.

“With the slowing economy, it’s bad news on top of bad news,” State Economist Phil Pepper said during a fiscal briefing at the state Capitol.

Pepper said there’s been slow growth in retail sales, and the national housing crisis has had a ripple effect in Mississippi.

The revenue estimate for the current fiscal year, which started last July 1, is $5.1 billion. He said the general fund revenue would have to grow by 2 percent for the rest of the fiscal year to make the estimate.