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Florida Economists: Growth To Continue Next Three Years

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(Photo Credit: Thinkstock)

(Photo Credit: Thinkstock)

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TALLAHASSEE, Fla. (CBSMiami/AP) — Proof that Florida’s economy is recovering the recession: state tax collections are up, and Florida economists are predicting that tax revenue will continue to grow over the next three years.

Tax collections since this past summer have been slightly higher than expected. Economists meeting Friday will draw up new forecasts.

Preliminary numbers prepared for the meeting show that economists expect tax collections to grow by at least 5 percent this year and at least 4 percent during the 2013-14 fiscal year.

Gov. Rick Scott will rely on the forecast as he draws up his budget recommendations for next year.

But economists warn that outside factors could harm the state’s economy. That includes the stalemate in Washington, D.C., over what to do about looming tax hikes and spending cuts.

(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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