Macroeconomic Forecasts

Consensus Economic Forecasting Commission:

The Office of Policy and Management provides staff support for the Consensus Economic Forecasting Commission (CEFC), an independent group of economists who forecast Maine's economy. The CEFC meets twice a year to update its economic forecast, which is used in establishing the revenue forecast for the State. The Commission forecasts three key indicators: wage and salary employment, personal income (by component), and the Consumer Price Index.

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Consensus Economic Forecasting Commission Background Materials:

Prior to each Consensus Economic Forecasting Commission (CEFC) meeting, the Office of Policy and Management, which staffs the Commission, assembles a set of background materials. These materials summarize the current economic environment and any recent develOPMents since the Commission's past meeting. Special attention is paid to indicators of general economic activity as well as indicators for employment, personal income, and inflation (the Consumer Price Index), which are forecast by the Commission. Additional background may include updates on home prices and sales, heating and crude oil, and other topics of interest.

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Special Data Gathering Sessions

Prior to each fallís forecasting meeting, the Consensus Economic Forecasting Commission (CEFC) invites the leaders of a variety of Maine business and industry groups to share economic data and industry-specific information. This on-the-ground perspective provides background to help inform the Commissionís forecasting process.

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Government Revenue:

Revenue Forecasting Committee

State Government Revenue by Source