June 4, 2012 Local Option Sales Tax Distribution: May 2012
May distribution came out and apparently March sales were up substantially from last year: 15.5%. The first quarter was up 8.4%, very good especially after the 0.5% increase in January sales. (We are getting a bit of a quarterly pattern of a very small 1st month, followed by better 2nd month and a very big 3rd month.)
In fact, fiscal year to date (9 months now in the bank) is now also up 8.4%. This is better than our forecast for FY2012 of 7.9% presented in St. George.
We’ll keep you posted. No data from the U’s BEBR on first quarter housing starts, so don’t know if housing contributed yet. But wages and salaries are looking like 6% growth this year.