California's home sales surge continues, as April's total was the second highest of any month since 2011.
This post provides commentary on our May Outlook revenues.
Nationwide retail sales, which grew very strongly in March, remained at a high level in April.
The state recorded nearly 12,000 housing permits in March, and nonresidential permit activity was surprisingly high.
Following on strong February data, California’s economy posted another major uptick in March.
Californians continued to found new businesses at a strong clip in April.
California employers added an estimated 119,600 net jobs in March.
California home sales have been running well above their historical average for more than half a year now.
March collections from the state’s three largest taxes—the personal income tax, corporation tax, and sales tax—exceeded projections by $2.5 billion (30 percent).
California home prices continue to surge, and are now up more than 11 percent over the past 12 months.
California income tax withholding collections to date in April are up 30.3 percent over April 2020, and collections to date in fiscal year 2020-21 are up 11.9 percent over 2019-20.
March retail sales were nearly 10 percent above February and 28 percent above March 2020.
Californians continue to create new businesses at a strong clip.
California housing permits came in somewhat below last February's total as multifamily permits slipped.
While continued economic recovery can be seen on several fronts, many Californians remain out of work.