December revenue collections from the state’s three largest taxes were ahead of Governor’s Budget projections by $3.0 billion (21 percent).
U.S. retail sales declined by 0.7% from November to December, but sales for the full year were 0.4% higher than 2019.
Credit/debit card data suggest CA taxable sales dropped by 2% in December but remained higher than January 2020.
After October data suggested a somewhat surprising jump in economic activity, November data returned to the late summer pattern of a slow recovery.
California recorded 8,368 housing permits in November, slightly above both the October level and the 2020 monthly average.
The pace of new business creation in California moderated in December, but remained ahead of 2019.
California's job growth slightly exceeded the national average over the last cycle, and its information sector performed especially well.
California income tax withholding in December to date is up 19 percent from 2019, and collections since March 23 are up 5 percent.
California home prices continue to surge, and are now up an average of 9% over last November.
California home sales were well above the 2019 level for the fifth straight month.
California employers added 57,100 jobs in November, the smallest increase since the economy started to recover.
November revenue collections from the state’s three largest taxes were ahead of budget projections by $2.4 billion (33 percent).
Credit/debit card data suggest CA taxable sales continued to grow in November; spending now higher than January.
U.S. retail sales declined by 1% in November, but total sales Jan.-Nov. 2020 were slightly higher than Jan.-Nov. 2019.
New business creation remained well above historical norms in November, despite slowing a bit relative to recent months.