Fiscal Research Division
Revenue & Economy

North Carolina’s Revenue Forecasting Process

The Consensus Revenue Forecast is an estimate of the amount of General Fund revenue available for the State budget.  The forecast considers the national and state economic outlook, historical relationships between the State and the national economy, the impact of federal legislation, and technical or timing issues that may affect revenue.

North Carolina uses a consensus approach to develop the revenue forecast.  Economic forecasters in the executive and legislative branches collaborate in an attempt to reach consensus about revenue projections.  During a legislative biennium, this Consensus Forecasting Team may produce multiple forecasts and updates; in addition, FRD typically publishes multiple revenue updates per biennium.  These documents are found below.


2021 Biennium (July 2021 – June 2023)

February 2021: Consensus Revenue Forecast
February 2021: Consensus Revenue Forecast and Budget Outlook Presentations


2019 Biennium (July 2019 – June 2021)

May 2020:  Forecast Revision
September 2019:  Forecast Revision
May 2019:  Forecast Revision
February 2019:  Consensus Revenue Forecast


2017 Biennium (July 2017 – June 2019)

January 2019:  Revenue Update
August 2018:  Revenue Update
January 2018:  Revenue Update
October 2017:  Revenue Update
February 2017:  Consensus Revenue Forecast


2015 Biennium (July 2015 – June 2017)

January 2017:  Revenue Update
October 2016:  Revenue Update
January 2016:  Revenue Update
October 2015:  Revenue Update
May 2015:  Forecast Revision
February 2015:  Consensus Revenue Forecast


2013 Biennium (July 2013 – June 2015)

January 2015:  Revenue Update
October 2014:  Revenue Update
April 2014:  Revenue Update
January 2014:  Revenue Update
October 2013:  Revenue Update
April 2013:  Revenue Update
February 2013:  Consensus Revenue Forecast


2011 Biennium (July 2011 – June 2013)

January 2013:  Revenue Update
September 2012:  Revenue Update
May 2012:  Revenue Update
February 2012:  Revenue Update
November 2011: Revenue Update
September 2011: Revenue Update
May 2011: Revenue Update
March 2011: Revenue Update
February 2011: Consensus Revenue Forecast


2009 Biennium (July 2009 – June 2011)

January 2011: Revenue Update
December 2010: Revenue Update and Budget Outlook
November 2010: Revenue Update
October 2010: Revenue Update
September 2010: Revenue Update
May 2010: Revenue Update
April 2010: Forecast Revision
March 2010: Revenue Update
February 2010: Revenue Update
January 2010: Revenue Update
December 2009: Revenue Update
November 2009: Revenue Update
October 2009: Revenue Update
September 2009: Revenue Update
May 2009: Forecast Revision
May 2009: Forecast Revision and Budget Outlook
March 2009: Revenue Update
February 2009: Revenue Update and Budget Outlook
January 2009: Revenue Update


2007 Biennium (July 2007 – June 2009)

December 2008: Revenue Update
November 2008: Revenue Update
October 2008: Revenue Update
September 2008: Revenue Update
May 2008: Revenue Update
April 2008: Revenue Update
March 2008: Revenue Update
February 2008: Revenue Update
January 2008: Revenue Update
December 2007: Revenue Update