Category Archives: Chart of the Day
Click here for ULCT Economist Doug Macdonald’s 2016 Economic Forecast and Review
May’s distribution of the 1% local sales at $46.92 million was up 2.8% compared to a year earlier (Figure 1 and 2). This distribution represents mainly monthly sales for March sales and first quarter sales for smaller quarterly accounts. The 2.8% rate is 1.7% lower than our 4.5% forecast for fiscal year 2014 made last December. Fiscal year-to-date revenues statewide were up 3.7% through the first nine months of fiscal year 2014.
On a seasonally adjusted basis May’s 1% sales taxes were up 3.8% over April’s at $43.44 million (Figure 3). This amount is almost $1 million greater than the peak of $42.44 million in May 2007.
Salt Lake City, Ogden, and Provo are mentioned in a new report by the Brookings Institution called The State of Metropolitan America. Here is an overview of the report that analyses demographic trends from the 2000s and divides major US metropolitan areas into seven new categories reflecting these new realities (NEXT FRONTIER: High growth, High diversity, High educational attainment; NEW HEARTLAND: High growth, Low diversity, High educational attainment; DIVERSE GIANT: Low growth, High diversity, High educational attainment; BORDER GROWTH: High growth, High diversity, Low educational attainment; MID-SIZED MAGNET: High growth, Low diversity, Low educational attainment; SKILLED ANCHOR: Low growth, Low diversity, High educational attainment; INDUSTRIAL CORE: Low growth, Low diversity, Low educational attainment).
Estimates from CBO economist using several different economic models show that, contrary to some opinions by radio and talk show hosts, the economic impacts of the American Recovery and Reinvestment Act of 2009 & 2012 (ARRA) were more positive than is currently believed by most of the American public.
Real GDP increased between 1% and 4% during the second and third years of the bill’s impact, 2010 and 2011. The unemployment rate would be -0.5% to 2% higher without the federal dollars passing through the economy. ARRA impacted employment favorably too by increasing it 1% to 2% in 2010 and 2011.