First pass at forecast 2026, includes first Census report of final 2025 spending. 2025 will be revised several times in the coming months, Dec and Nov are still subject to revision. All of this is behind what would be normal schedule due to shutdowns. Then all of 2025 will be revised, often a more significant revision, with the release of May data on July 1. However, this represents my initial Outlook for 2026 spending. More to soon follow on jobs and inflation.