January 4, 2010 Happy New Year!
It looks like we can ring in the new year with some good news with sales tax (finally). The December local option distribution (October sales) is only down 1.4% from 2008 distribution for the same month. This obviously is still negative, but a huge improvement from the double digit drops we have experienced from months. There are a couple of other positive signs too:
- Utah’s unemployment claims are receding
- Utah’s residential construction values are improving
Here is the latest ULCT economic update in a green, yellow, and red light snapshot:
Please let me know if you have any questions.