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BEA Releases Advance Estimate of Second Quarter GDP (July 2016)


The Bureau of Economic Analysis released its “advance” estimate of second quarter 2016 Gross Domestic Product.  The advance estimate is based on data that may be incomplete or subject to revision.  The second estimate, released in August, will be based on more complete data.

The advance estimate shows that real GDP increased at an annual rate of 1.2 percent during the second quarter of 2016.  In the first quarter of 2016, real GDP increased 0.8 percent (revised).

The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE) and exports which were offset by negative contributions from private inventory investment, nonresidential and residential fixed investment and state and local government spending.  Imports, which is subtracted in the GDP calculation, decreased. 

The full BEA press release on the advanced estimate of second quarter GDP can be accessed in the link below:

The next release—for the second estimate of second quarter GDP 2016 and preliminary estimate for corporate profits, second quarter 2016 will be released on Friday, August 26, 2016. 



July 2016 Emergency Board Testimony (July 2016)


On July 21, 2016, Jeffrey B. Carr testified before the Vermont Emergency Board concerning the revised consensus revenue forecast for the State’s 2017 and 2018 fiscal years.  The revenue forecast update was adopted unanimously by the five member Emergency Board comprised of the Governor and the four chairs of the “money committee” of the Vermont Senate and Vermont House of Representatives.  The report is attached below.    


EB5 Investors Magazine NY Summit (July 2016)


EPR's Jeff Carr participated in a panel discussion on how to put together an "approvable EB-5 Project" at EB-5 Investors Magazine's 2016 EB-5 Conference in New York City on July 18th.

Mr. Carr presented information regarding what is required to complete an economic impact study and explained the differences between establishing your own regional center versus "renting" an already established regional center.

Resort Hotel Association Conference (July 2016)


Subject:  "The Short-term Economic Outlook under the "New Normal".  On July 11, Jeffrey B. Carr of EPR gave a presentation on the economic outlook for the United States—with a focus on the tourism industry—at the Resort Hotel Association's annual conference in Pebble Beach, California.

Mr. Carr's presentation is available as a PDF below:


BLS Releases June 2016 Employment Situation (July 2016)


The Bureau of Labor Statistics has released employment data for June 2016. Unemployment rose 0.2 percentage points to 4.9%, though nonfarm payroll employment increased by 287,000.

Employment rose in the information sector after workers returned from a strike. There was also job growth in leisure and hospitality, health care and social assistance, and financial activities.

The full release is available as a PDF below:


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BLS Releases December...

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in December on a seasonally adjusted basis after rising 0.3 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the...

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