Missouri’s economy is expected to grow next year, according to the annual revenue estimate released Tuesday by the Governor’s office and key legislative leaders.
Democratic Governor Jay Nixon, along with GOP Budget chairs Rick Stream from the House and Kurt Schaefer from the Senate, say that the state’s economy will grow by just over 3 percent during the next fiscal year. The economic growth rate is actually estimated to be 4.8 percent – but the loss of one-time revenue sources from Washington and other factors lower it to the 3 percent net rate.
The same report last year forecast slightly higher than today's - that report listed an expected growth rate of 3.9 percent.
The figures will be used to craft proposals for next year’s state budget by both Nixon and House and Senate leaders. The 2013 regular session begins Jan. 9.
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