Thursday, July 19, 2012

Metro Denver Retail Recovery Underway

The Denver seven-county metro area has had a tremendous surge of activity its first five months of the year as measured by sales tax receipts.  Year-to-date receipts (May) are up 8.4 percent over a year ago and sales tax revenue up 9.1 percent for the month compared to May 2011.  This represents a strong improvement over the last three months.  The March year-to-date was up 3.8 percent over 2011 and month-over-month revenue was up 5.8 percent compared to March 2011.

Colorado may be an anomaly, as recent national retail sales slowed in June.  But, areas are unique, and Colorado has had higher personal income growth and lower unemployment than the national average.  So, the improvement through the end of the year could be more modest, yet still ahead of the national average, and the growth is certainly welcomed.

See Wall Street Journal:
When pockets of strength just aren’t enough
U.S. News:  Retail sales cap sluggish quarter

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