November 14, 2007

Latest fiscal numbers

Here is the latest monthly report from the Finance Department. Revenues are down again, $324 million for October alone and $1.1 billion for the fiscal year. Much of the softness is in sales tax, reflecting slower growth in retail sales than the administration projected at the time the budget was adopted. On the bright side, withholding from paychecks, a good measure of current economic activity, was just about what had been projected.

In a few minutes Liz Hill will deliver her five-year economic and fiscal forecast, which is likely to be something of a downer.

Posted by dweintraub on November 14, 2007 10:13 AM