News

Gross Domestic Product, Third Quarter 2019 Advance Estimate (Oct. 2019)

10.30.2019

Real gross domestic product(GDP) increased at an annual rate of 1.9 percent in the third quarter of 2019, according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.0 percent.  The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures (PCE), federal government spending, residential fixed investment, state and local government spending, and exports that were partly offset by negative contributions from nonresidential fixed investment and private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.  The deceleration in real GDP in the third quarter reflected decelerations in PCE, federal government spending, and state and local government spending, and a larger decrease in nonresidential fixed investment. These movements were partly offset by a smaller decrease in private inventory investment, and upturns in exports and in residential fixed investment.

The full pdf of the release can be found below.  

Revenue Release for September Tax Receipts (Oct. 2019)

10.25.2019

On October 18, 2019, Administration Secretary Susanne Young released revenue results for the State of Vermont for the month of September and the first quarter of the State’s 2020 Fiscal Year.   According to Secretary Young, “...General Fund and Education receipts were above the consensus cash flow target for the month, while Transportation Fund revenues were below expectations...Year to date, General Fund revenues were above target, and the Transportation and Education Funds are essentially on target...”.  Secretary Young then commented; ”...It is encouraging that the September collections were ahead of forecast because September collections reflect quarterly estimated personal and corporate income tax payments. But we also recognize that we are only one quarter into the fiscal year, and much can change...”

Click the pdf below to download Secretary Young’s entire press release with the comprehensive State revenue receipts data.

BLS Releases September 2019 Consumer Price Index (Sept. 2020)

10.10.2019

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in September on a seasonally adjusted basis after rising 0.1 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.

Increases in the indexes for shelter and food were offset by declines in the indexes for energy and used cars and trucks to result in the seasonally adjusted all items index being flat. The energy index fell 1.4 percent as the gasoline index declined 2.4 percent. The food index increased 0.1 percent in September after being unchanged in each of the prior 3 months.

The index for all items less food and energy rose 0.1 percent in September after increasing 0.3 percent in each of the last 3 months. Along with the shelter index, the indexes for medical care, household furnishings and operations, and motor vehicle insurance all rose in September. The indexes for used cars and trucks, apparel, new vehicles, and communication all declined.

The all items index increased 1.7 percent for the 12 months ending September, the same increase as for the 12 months ending August. The index for all items less food and energy rose 2.4 percent over the last 12 months, also the same increase as the period ending August. The food index increased 1.8 percent over the last year, while the energy index decreased 4.8 percent.

The full press release can be found via the link below.

Next release is Thursday, November 13, 2019, for the October 2019 Consumer Price Index.

Short-term Extension of the EB-5 Regional Center Program (Oct. 2019)

10.04.2019

On or about September 27, 2019, President Trump signed H.R. 4378 a short-term continuing spending resolution (CR) funding the government through November 21, 2019. The short-term CR prevents a federal government shutdown and also ensures that the EB-5 Regional Center Programs authorization has been extended through November 21, 2019. This short-term, EB-5 regional center program extension prevented the EB-5 regional center program from losing its authorization to operate on September 30, 2019.  As most all EB-5 stakeholders also now understand, the published DHS EB-5 reform regulations for the EB-5 program (which includes a sizable increase I the program’s minimum investment amounts) are set to go into effect on November 21, 2019, unless a legislative reform package is signed into law prior to that date to pre-empt them.  Stay tuned for more EB-5 Program news updates.

Gross Domestic Product, Second Quarter 2019 Third Estimate (Sept. 2019)

10.04.2019

Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the second quarter of 2019 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 percent.  The increase in real GDP in the second quarter reflected positive contributions from PCE, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment, exports, nonresidential fixed investment, and residential fixed investment.  The deceleration in real GDP in the second quarter primarily reflected downturns in inventory investment, exports, and nonresidential fixed investment. These downturns were partly offset by accelerations in PCE and federal government spending.

The second-quarter percent change in real GDP was the same as previously estimated. Downward revisions to PCE and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports, and a downward revision to imports.