June 4, 2009 Stop Lights (economic indicators) for May
May distribution (March sales) of the 1% local option sales tax is down -18.6% from April 2009. Which is down more than we had expected, ULCT forecasted sales to be down closer to -12.5%. It looks like June distribution (April sales) will not be good news either, we aren’t sure how bad this might be probably down anywhere from -6.0% to -15.0%…hopefully closer to 6.0%.
The latest salient economic indicator stop light chart for May can be found here: May 2009 Indicators