Print
Comment
Rate
Retail sales up in county, but down in Benson
Robert Carreira
Center for Economic research
Retail sales - Cochise County's largest category of taxable sales - increased by 18.7 percent in May compared with May last year, after adjusting for inflation. May was the first month of positive growth following 14 consecutive months of decline. In the first five months of 2009, the county's retail sales were down 3.6 percent compared with the same period a year ago.
May's surge in retail sales is a positive sign, although most economists warn against placing too much emphasis on a single month of data. As economies and markets move in or out of recession, there tends to be a period of instability characterized by gains one month, losses the next, and so on. Despite the strong growth in May, there's likely to be some instability in the retail market until it's on firm footing in the recovery phase of the cycle, which seems likely to occur later this year.
Cochise County's restaurant and bar sales were up 0.6 percent in May. Sales in the first five months of 2009 were down 2.6 percent compared with the same period last year. Despite the year-to-date decline, sales were up in four of the most recent six months, following six consecutive months of decline.
The county's accommodation sales, which include hotel, motel, and other temporary lodging stays of less than 30 days, were down 8.5 percent in May. For the first five months of the year, sales declined 5.3 percent. Sales were down in five of the most recent eight months.
At the city level, restaurant and bar receipts in Benson were up 33.2 percent in May, compared with May last year. The strong growth is due to the recent opening of Gracie's Station, a new restaurant in the city. In the first five months of 2009, the city's restaurant and bar sales were up by 10.3 percent. Restaurant and bar sales in Benson have seen positive growth in seven of the past nine months, following seven straight months of decline last year.
Benson's accommodation receipts in May fell by 16.5 percent compared with May last year. Sales were down 12.7 percent for the first five months of the year and were down in six of the most recent seven months.
Retail sales are not reported for Benson due to the city's two-tiered tax system, which precludes accurately estimating sales based on tax collections. Retail sales tax revenue, however, was down 4 percent (unadjusted) in May. Revenue was down 7.2 percent (unadjusted) in the first five months of the year.
In Bisbee, retail sales were down 2.7 percent in May. Sales in the first five months of the year were down 7 percent. Sales were down in nine of the most recent 10 months.
Bisbee's restaurant and bar sales were up 10 percent in May. Sales in the first five months of the year were up 0.2 percent. Sales were up in six of the nine months from September last year through May this year.
Bisbee's accommodation receipts were down 14.2 percent in May. In the first five months of the year, sales were down 26 percent. May was the eighth consecutive month of decline, following relatively strong growth in the first three quarters of last year.
In Douglas, restaurant/bar sales were up 2.2 percent in May. Despite the May increase, sales were down 2.7 percent in the first five months of the year. Sales were up in three of the most recent five months for which data are available.
Retail sales are not reported for Douglas due to the city's two-tiered tax system. Retail sales tax revenue, however, was up 3.5 percent (unadjusted) in May. Revenue was down 0.4 percent (unadjusted) in the first five months of the year. The decline would have been much steeper if not for the city's general sales tax rate increase from 2.5 to 2.8 percent for most items, which took effect Sept. 1 last year.
Accommodation sales are not reported for Douglas due to the small number of establishments and the Arizona Department of Revenue's confidentiality policy.
In Huachuca City, retail sales were down 37 percent in May. In the first five months of the year, sales were down 29.2 percent. May was the 15th month of decline, and sales were down in 20 of the past 21 months.
In Sierra Vista, retail sales were up 32.1 percent in May. Despite the surge in May, sales in the first five months of the year were down 1.6 percent. May was the first month of positive growth following 13 consecutive months of decline.
Sierra Vista's restaurant and bar sales were up 4.1 percent in May. Despite the May increase, sales were down 0.9 percent in the first five months of 2009. The city's restaurant and bar sales have been up in four of the past seven months.
Sierra Vista's accommodation sales were up 20.2 percent in May. In the first five months of 2009, sales were up 14.8 percent. The strong growth in 2008 and continuing into 2009 is attributable to the opening of several new hotels in the city, which reduces business leakage to surrounding communities.
In Tombstone, retail sales were down 11.5 percent in May. Sales were down 13 percent in the first five months of the year and down in 11 of the past 12 months.
Tombstone's restaurant and bar sales were up 42.3 percent in May. Despite the increase, sales were down 11.9 percent in the first five months of the year. The increase in May was the first month of positive growth since November last year.
Accommodation receipts in Tombstone were down 31.9 percent in May. In the first five months of the year, sales were down 14.2 percent. Sales were down in five of the most recent eight months.
Robert Carreira, Ph.D. is director of Sierra Vista-based Center for Economic Research at Cochise College.The center's Web site is www.cochise.edu/cer.
Center for Economic research
Retail sales - Cochise County's largest category of taxable sales - increased by 18.7 percent in May compared with May last year, after adjusting for inflation. May was the first month of positive growth following 14 consecutive months of decline. In the first five months of 2009, the county's retail sales were down 3.6 percent compared with the same period a year ago.
May's surge in retail sales is a positive sign, although most economists warn against placing too much emphasis on a single month of data. As economies and markets move in or out of recession, there tends to be a period of instability characterized by gains one month, losses the next, and so on. Despite the strong growth in May, there's likely to be some instability in the retail market until it's on firm footing in the recovery phase of the cycle, which seems likely to occur later this year.
Cochise County's restaurant and bar sales were up 0.6 percent in May. Sales in the first five months of 2009 were down 2.6 percent compared with the same period last year. Despite the year-to-date decline, sales were up in four of the most recent six months, following six consecutive months of decline.
The county's accommodation sales, which include hotel, motel, and other temporary lodging stays of less than 30 days, were down 8.5 percent in May. For the first five months of the year, sales declined 5.3 percent. Sales were down in five of the most recent eight months.
At the city level, restaurant and bar receipts in Benson were up 33.2 percent in May, compared with May last year. The strong growth is due to the recent opening of Gracie's Station, a new restaurant in the city. In the first five months of 2009, the city's restaurant and bar sales were up by 10.3 percent. Restaurant and bar sales in Benson have seen positive growth in seven of the past nine months, following seven straight months of decline last year.
Benson's accommodation receipts in May fell by 16.5 percent compared with May last year. Sales were down 12.7 percent for the first five months of the year and were down in six of the most recent seven months.
Retail sales are not reported for Benson due to the city's two-tiered tax system, which precludes accurately estimating sales based on tax collections. Retail sales tax revenue, however, was down 4 percent (unadjusted) in May. Revenue was down 7.2 percent (unadjusted) in the first five months of the year.
In Bisbee, retail sales were down 2.7 percent in May. Sales in the first five months of the year were down 7 percent. Sales were down in nine of the most recent 10 months.
Bisbee's restaurant and bar sales were up 10 percent in May. Sales in the first five months of the year were up 0.2 percent. Sales were up in six of the nine months from September last year through May this year.
Bisbee's accommodation receipts were down 14.2 percent in May. In the first five months of the year, sales were down 26 percent. May was the eighth consecutive month of decline, following relatively strong growth in the first three quarters of last year.
In Douglas, restaurant/bar sales were up 2.2 percent in May. Despite the May increase, sales were down 2.7 percent in the first five months of the year. Sales were up in three of the most recent five months for which data are available.
Retail sales are not reported for Douglas due to the city's two-tiered tax system. Retail sales tax revenue, however, was up 3.5 percent (unadjusted) in May. Revenue was down 0.4 percent (unadjusted) in the first five months of the year. The decline would have been much steeper if not for the city's general sales tax rate increase from 2.5 to 2.8 percent for most items, which took effect Sept. 1 last year.
Accommodation sales are not reported for Douglas due to the small number of establishments and the Arizona Department of Revenue's confidentiality policy.
In Huachuca City, retail sales were down 37 percent in May. In the first five months of the year, sales were down 29.2 percent. May was the 15th month of decline, and sales were down in 20 of the past 21 months.
In Sierra Vista, retail sales were up 32.1 percent in May. Despite the surge in May, sales in the first five months of the year were down 1.6 percent. May was the first month of positive growth following 13 consecutive months of decline.
Sierra Vista's restaurant and bar sales were up 4.1 percent in May. Despite the May increase, sales were down 0.9 percent in the first five months of 2009. The city's restaurant and bar sales have been up in four of the past seven months.
Sierra Vista's accommodation sales were up 20.2 percent in May. In the first five months of 2009, sales were up 14.8 percent. The strong growth in 2008 and continuing into 2009 is attributable to the opening of several new hotels in the city, which reduces business leakage to surrounding communities.
In Tombstone, retail sales were down 11.5 percent in May. Sales were down 13 percent in the first five months of the year and down in 11 of the past 12 months.
Tombstone's restaurant and bar sales were up 42.3 percent in May. Despite the increase, sales were down 11.9 percent in the first five months of the year. The increase in May was the first month of positive growth since November last year.
Accommodation receipts in Tombstone were down 31.9 percent in May. In the first five months of the year, sales were down 14.2 percent. Sales were down in five of the most recent eight months.
Robert Carreira, Ph.D. is director of Sierra Vista-based Center for Economic Research at Cochise College.The center's Web site is www.cochise.edu/cer.
 |
||
| Don't judge all officers for the actions of one |
Article Rating
Reader Comments
The following are comments from the readers. In no way do they represent the view of bensonnews-sun.com.
