Standard & Poor's Ratings Services' July update to its sector economic and credit conditions forecast for U.S. public finance indicates that the slowing economy of the past quarter will be felt by state and local governments particularly in early-to-mid 2013.

The report, "U.S. Public Finance Economic And Credit Conditions Forecast: Overall Improvement Will Likely Slow With Some Exceptions," notes that while conditions will still generally improve, the slower growth will set the tone for governments' fiscal year 2014 budget processes.

The report also notes that the interpretation of Standard & Poor's forecast for specific drivers of the state and local government credit climate vary by and within the various geographic areas, which the report details.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.