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NC's economic forecast: partly sunny with a chance of showers

State tax collections through February were above target, while non-tax revenue is falling short of projections, according to a new report to legislators on state revenue.

In all, money going to the state treasury is above target by less than 1 percent, according to the Fiscal Research Division report. The division's revenue and economic outlook reports are important to legislators as they try to predict how much money the state has for the upcoming budget.

According to the division, the state is expected to follow the nation's slow, steady recovery from the recession. High unemployment will continue to be a drag, and potential shocks include rising commodities prices and the European sovereign debt crisis.

The all-important report that will include details about April tax collections is due in mid-May.


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