{"id":16832,"date":"2026-03-03T09:45:49","date_gmt":"2026-03-03T14:45:49","guid":{"rendered":"https:\/\/www.eastwindsorchamber.com\/site\/?p=16832"},"modified":"2026-03-03T09:45:49","modified_gmt":"2026-03-03T14:45:49","slug":"economic-pulse-from-osc","status":"publish","type":"post","link":"https:\/\/www.eastwindsorchamber.com\/site\/economic-pulse-from-osc\/","title":{"rendered":"Economic Pulse (from OSC)"},"content":{"rendered":"\n\n\n
This Letter is sent to us by Office of the State Comptroller- <\/strong><\/em><\/p>\n

The EWCC Hopes You Find this Helpful\u00a0<\/strong><\/em><\/p>\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n

Welcome to March! Here’s to hoping for melting snow and Husky wins.<\/h1>\n

You’ve probably heard Governor Lamont call Connecticut\u00a0“The Napa Valley of Oysters,”\u00a0<\/a>but how does “The Silicon Valley of Quantum Technology” sound?<\/p>\n

This month, we spotlight how industry-leading innovation in quantum technology happening right here in Connecticut has big potential to impact key industries across our state, country, and globe.<\/p>\n

Read the report here<\/a>.<\/p>\n

Stay sharp, stay informed, and keep your finger on the pulse,<\/p>\n

Comptroller Sean Scanlon<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n

Quick Beat<\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n

General Fund Surplus:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

$77.3\u00a0million<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n

\n\n\n\n
\n

Special Transportation Fund Surplus:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

$46.4\u00a0million<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n

Outlook:\u00a0The U.S. economy is likely to continue muddling along in the near term, as the Supreme Court ruling overturning the President\u2019s tariffs generates new uncertainty, U.S. employers added a solid 130,000 jobs in January, and real gross domestic product (GDP) growth slowed to 1.4% (preliminary SAAR) in Q4.<\/p>\n

Consumer spending continues to be the engine of economic growth,\u00a0and layoffs remain low.\u00a0Connecticut\u2019s unemployment rate remained low at 4.2% as of December. That is up from 3.2% the prior year as hiring has slowed.<\/p>\n

The Budget Reserve Fund (BRF), also known as the Rainy Day Fund,\u00a0is projected to receive $1.888 billion in transfers associated with the close out of FY 2026. After, the balance of the BRF is anticipated to temporarily reach $6.14 billion, or 25.5% of FY 2026 General Fund appropriations. Given the 18% statutory cap, Comptroller Scanlon anticipates additional transfers to reduce pension debt during the closeout of FY 2026.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n

\n\n\n\n
KEY DATES THIS MONTH<\/p>\n

 <\/p>\n

3\/6 \u2013 February U.S. jobs report<\/p>\n

3\/11 \u2013 February CPI inflation report<\/p>\n

3\/13 \u2013 U.S. 2025 Q4 GDP 2nd estimate<\/p>\n

3\/17-3\/18 \u2013 U.S. Federal Reserve FOMC rate-setting meeting<\/p>\n

* Note: January & February CT jobs reports will be available on 4\/7 and 4\/21<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

Connecticut is an early leader in quantum technologies, and many industries in the state are expected to benefit. But what is quantum technology? And how is a partnership between Yale and UConn accelerating innovation? What comes next?<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
Learn more<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
SCOTUS struck down President Trump\u2019s \u201cliberation day\u201d and fentanyl-related tariffs. But the Court was silent on the issue of refunds\u2014leaving U.S. companies that already paid roughly $130 billion in limbo and litigation likely to ensue.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
Read more<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
Connecticut\u2019s population reached 3,688,496 people as of July 1, 2025. That\u2019s up about 14,000 (0.38%) from July 1, 2024, but reflects a slowdown from the prior year, which saw particularly strong population growth of approximately 35,500 people (0.91%).<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
Visit our Website<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
A recent\u00a0NYT headline<\/a>\u00a0brought attention to lowering mortgage rates. Take a look at the latest stats on Connecticut’s labor and housing markets as we continue to grapple with a slowing labor market and low housing supply.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
What’s the latest?<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
The Office of the State Comptroller |\u00a0165 Capitol Ave\u00a0|\u00a0Hartford, CT 06106<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

This Letter is sent to us by Office of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-16832","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/posts\/16832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/comments?post=16832"}],"version-history":[{"count":1,"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/posts\/16832\/revisions"}],"predecessor-version":[{"id":16833,"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/posts\/16832\/revisions\/16833"}],"wp:attachment":[{"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/media?parent=16832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/categories?post=16832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eastwindsorchamber.com\/site\/wp-json\/wp\/v2\/tags?post=16832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}