Page 19 - FY 2021--22 Revenue Outlook

3.6 22-Q1
21-22 5.0 21Q4 Since the end of the and the restrictions to

FY 6.8 21-Q3

7.0 4.9 21-Q2 21-Q1

Projected GDP Growth 20-21 FY 33.4 4.3 20-Q4 20-Q3

Actual and projected percent change in real GDP by quarter

Gross Domestic Product
Survey Conducted by Wall Street Journal (March 2021)

-5.0 -31.4 20-Q2 20-Q1

19-20 2.4 19-Q4

FY 2.6 19-Q3 Calendar Year Quarter GDP marks the first recession after the Great Recession, when GDP dropped 15.5 percent over four quarters and took another six to recover the 12

1.5 19-Q2 third quarter of 2009 GDP growth has been positive, except for single quarters of negative growth in 2011 and 2014. The pandemic's impact to control its spread have been offset by growth totalling 37.7 percent for the final two quarters. The post-pandemic recovery is predicted to be stronger than that following the Great Recession, with surveyed economists forecasting annual GDP growt

2.9 19-Q1 The effect of the change in gross domestic product (GDP) can be seen in the City's receipts as soon as the following quarter. loss. In contrast, the sharp 36.4 percent drop for the first two quarters of 2020 that coincided with the start of the pandemic
Actual GDP Growth 18-19 FY 2.1 1.3 18-Q4 18-Q3

3.8 2.7 18-Q2 18-Q1

17-18 3.9 17-Q4 through first quarter 2022) is shown in the chart above.

FY 2.9 17-Q3

1.7 17-Q2

2.3 17-Q1

40 30 20 10 0 -10 -20 Percent Change -30 -40