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Presenter: Forecast shows modest growth; BottleRock yields large onsite spending but mixed local sales impacts
Summary
Dr. Eiler told the council that national forecasts show modest growth with a roughly 15% recession probability for the year, and preliminary event estimates show BottleRock promoter spending near $49 million with about $5 million to local food vendors and roughly $2 million in on-site tax receipts; staff said taxable-sales data lag and cautioned on interpretation.
Dr. Eiler, the presentation economist who briefed the Napa City Council, said national forecasts point to modest growth through 2026 with only a roughly 15% probability of recession this year and that inflation is expected to fade slowly in later years. "There’s no forecast out there that suggests recession is guaranteed," he said, while noting multi-year forecasts become increasingly uncertain.
Bridal Hurley, the city’s economic development program coordinator, introduced the dashboard update and said staff are updating a public indicators…
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