For first time in 2 years, Oregon budget in black

State economists say the revenue forecast for Oregon is finally showing a modest gain after nearly two years of declines.

The quarterly forecast for state revenue now projects the two-year budget cycle will end with $62 million left over.

But the extra money reflects $1 billion in cuts enacted earlier this year.

State economist Tom Potiowsky told state lawmakers today that a planned multibillion-dollar investment by Intel and strong job growth numbers last month are encouraging signs.

But he warns there's still a 25 percent chance of falling back into a recession.

— The Associated Press

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