Finance Bulletin

June 2001

Economic Update

February saw more strong job growth in California.  The state’s inflation rate was on the rise, reflecting rising housing and energy costs.April and May clearly show that while California’s economic growth continues, it has slowed from the extraordinary 2000 performance.  The state’s slowdown is predominantly centered in the San Francisco Bay Area.

  Industry Employment Growth Slows

Monthly Cash Report

Preliminary General Fund agency cash for May was $34 million below the 2001-02 May Revision forecast of $4.44 billion.  Including adjustments for actual April receipts that were not known when the May Revision forecast was prepared, year-to-date, revenues are $41 million higher than the $70.855 billion that was expected.  Although May is a significant revenue month, June is far more important.  As the second-largest month of the year, $8.6 billion is expected during June.

General Fund Agency Cash
2001 May Revision Forecast

2000-01 Comparison of Actual and Forecast 
Agency General Fund Revenues

For more information, please contact the California Department of Finance,
Room 1145, State Capitol, Sacramento, CA or call (916) 323-0648.

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