Advance Auto will relocate its HQ to Raleigh, bringing 435 jobs. The 10 Least Tax-Friendly States in the U.S. Arizona's 30 Largest Cities and Towns Ranked for Local Taxes, 31 Cheapest U.S. Cities for Early Retirement, 12 Surprisingly Great Places to Retire in the Midwest, 30 Cheapest Places Where You'll Really Want to Retire, 13 Reasons You'll Regret an RV in Retirement. Bureau of Labor Statistics. Strong GDP growth continues thereafter but at a slower pace. Forecasts compiled by the government and published on Wednesday show the average prediction for UK GDP this year is now -10.1%. Here are some of my favorite podcast…, U.S. An Update to the Economic Outlook: 2020 to 2030, CBO’s Economic Projections for Calendar Years 2020 to 2030, Growth of Real GDP and Real Potential GDP, and the Output Gap, Privacy, Security, and Copyright Policies. The rest of the state is languishing at the moment because it's been a tough year for Nebraskan agriculture: widespread flooding in March caused $1 billion in damages to infrastructure, crop and livestock losses. There has been no boom in GDP as Trump falsely states since he has been the President. Along with ongoing work at the Los Angeles International Airport, more than 100 office, retail, residential, and hospitality projects are in the pipeline. When China carelessly launched the Covid 19 export, it ruined its future internationally. All quotes delayed a minimum of 15 minutes. Outside of Boston, job growth in Springfield has jumped up this year as the area becomes a transportation hub and expands in healthcare. The airport is getting an upgrade. Construction jobs will lead the way at 10%, and healthcare will grow a robust 4%, but the hospitality sector will remain in the doldrums a while longer. Lockheed Martin's new facility brought 1,000 jobs. Save my name, email, and website in this browser for the next time I comment. The economy continues to expand during the second half of the decade in CBO’s projections. African American, Hispanic, and female workers have been hit particularly hard, in part because they make up a disproportionate share of the workforce in certain industries with jobs that involve elevated risks of exposure to the coronavirus. The trade war with China has also dampened prospects. In keeping with CBO’s mandate to provide objective, impartial analysis, this report makes no recommendations. States can expect healthy tax revenues for at least the next several quarters as low unemployment continues, incomes slowly rise, inflation increases modestly and higher energy prices generate more income for states with severance taxes. This sudden recession was bad, and it will stick around for a couple of months, but the changes coming out of it, are very positive and will drive US growth. The Atlanta metro area continues to drive the state, with growth of 1.9%. It is the distribution hub of the Southeast. Construction activity is going strong in Idaho, including a $150-$200 million expansion at Boise's busy airport, where passenger traffic is soaring now that it is one of the Mountain region's fastest-growing cities. Office building vacancies are fairly low at 12%, but demand for space is soft, and rent growth is modest. Besides housing prices, the fire risk in California has gotten publicity in the past two years. One is the “tipping-point probability”: the chance that a state will cast the decisive 270 th electoral vote for the victor. High tech will remain a key engine for growth, benefiting from top-ranked universities including Harvard and Massachusetts Institute of Technology as well as a thriving start-up scene. Quaker Windows is adding 300 manufacturing jobs in Eldon. In reality, with businesses reopening and some stimulus funding, we can accelerate well out of this vicious recession. This economic forecast provides CBO’s first complete set of economic projections through 2030 since January and incorporates information available as of June 26.1 The baseline forecast is being published now, rather than later with the budget projections, to provide the Congress with CBO’s current assessment of the economic outlook in a rapidly evolving environment. This post discusses the main economic factors to watch – namely China’s manufacturing production (to fill current demand), international trade declines, rising USD value, consumer spending trends, employment, and growth in US productivity. Clarksville and Jackson continue to experience solid job growth above the state average. The population growth rate has been cut in half over the past three years as the number of Californians moving to other states has picked up. Jobs in health care are growing by more than 3%. Large-scale housing projects, including one in Syringa Valley for 2,000 new homes, are in the works to try to ease a shortage of housing. Toyota Motor Co. has just started turning out a new generation of its Corolla compact car from its Blue Springs plant. “I think the Fed is trying to convey a realistic assessment,” said Steven Englander, global head of G10 FX Research and North America macro strategy at Standard Chartered.

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