U.S. retail sales have dropped 0.9 percent over the last 3 months and grown 1.6 percent over the last 12 months.
U.S. retail sales have grown 1.9 percent over the last 3 months and 2.9 percent over the last 12 months. Sales have grown faster than inflation over the last 3 months but slower than inflation over the last 12.
Based on the most recent revenue and economic data, we currently estimate that collections from the state’s “big three” taxes—personal income, sales, and corporation taxes—are likely to fall below the Governor's Budget assumption of $200 billion in 2022-23.
U.S. retail sales (seasonally adjusted) declined 1.1 percent from November to December. The two-month decline was 2.1 percent. In the last 30 years, two-month drops of at least 2 percent have happened around recessions.
U.S. retail sales (seasonally adjusted) declined 0.6 percent from October to November.
U.S. retail sales (seasonally adjusted) grew 1.3 percent from September to October.
California businesses added 19,900 jobs in June, about half as much as recent months and the slowest gain since last September.
California businesses added 42,900 net jobs in May (seasonally adjusted), about the same as April and another month of slower job growth than seen in the past year.
California employers added 41,400 net jobs in April (seasonally adjusted), the smallest net gain in the past six months.
California employers added 60,200 jobs net jobs March (seasonally-adjusted), a 4.2 percent increase on an annual basis.
February 2022 business formation data shows that new business creation is retuning to long-term average levels after growing at a faster pace in late 2020 and throughout 2021.
U.S. retail sales (seasonally adjusted) grew 0.3 percent from January to February. Retail sales have been elevated after growing dramatically in early 2021, but inflation has offset much of the past year’s apparent “growth.”
California employers added 50,700 net jobs in December, representing annualized growth of 3.6 percent.
California income tax withholding collections in November were up nearly a third over last November.
The pace of California home sales is slowing, although it remains high by historical standards.