Seal of the  State of Connecticut, Office of the State Comptroller

STATE OF CONNECTICUT

NANCY WYMAN
COMPTROLLER

OFFICE OF THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775

MARK OJAKIAN
DEPUTY COMPTROLLER


WYMAN SAYS MODERATING ECONOMY MAY LEAD TO SMALLER SURPLUS
Contact: Steve Jensen
860-702-3308/3301
October 2, 2007 Steven.Jensen@po.state.ct.us

State Comptroller Nancy Wyman said indications of a moderating economy have led her to project a relatively small surplus of $4.9 million for the fiscal year that ends June 30, 2008.

That estimate is a fraction of the $1.1 billion gross surplus the state recorded in fiscal 2007.

"Although current revenue trends are still positive, there are some indications of an approaching economic slowdown," Wyman said. "Overall, the state economy remains stable, but I do not expect a continuation of the enormous surpluses of the past several years."

In her monthly letter to the Governor on the state's economy, Wyman detailed several "mixed signals" from the state and national economies that led to her conservative projection, including:

The State Comptroller appreciates input on this and other issues from residents of the state. Please feel free to contact her office by phone - (860) 702-3300; mail - OSC, 55 Elm Street, Hartford, CT 06106; or, via E-mail - osc.opinions@po.state.ct.us

Learn more about the Connecticut Comptroller's Office by calling up our Internet Home Page, at the link below.

For Immediate Release
October 2, 2007

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