The Missouri Department of Revenue (DOR) released preliminary taxable sales estimates for the 1st quarter of 2007. Over this period, $17.8 billion in taxable sales occurred in the state, an increase of 0.81% in actual dollars from the same quarter of 2006.
Analysis by MERIC shows that if seasonal and inflationary effects are removed from the data, real year-to-year growth in taxable sales during the 1st quarter of 2007 was -1.59%. This is down from -0.56% growth in the 4th quarter of 2006.
At the national level, seasonally adjusted retail sales increased during the 1st quarter of 2007, expanding at an annual rate of 3.4%. Missouri's seasonally adjusted taxable sales have generally mirrored the trends in U.S. retail spending. Retail sales account for approximately 65% of taxable sales in Missouri, with an additional 10% from wholesale trade, 10% from service industries such as hotels and amusement parks, 10% from communications industries, and 5% from other industries.
Source: Economy.com
