Consumer spending in the Colorado Springs area rebounded slightly in September from a decline in August, according to the latest sales tax revenue report from the Colorado Springs Finance Department.
The city’s sales tax revenue in October, which reflects September sales, rose 1.4% year over year to $16 million after a decline in September that stemmed mostly from an inflated total in September 2018. Vehicle sales surged in August last year after hailstorms in June and August, according to the Colorado Automobile Dealers Association. Those storms triggered more than 38,000 auto insurance claims totaling $230 million.
The reason September revenue was nearly flat: Gains from grocery stores and business services slightly more than offset declines in building materials and commercial machines.
For the Full Story: The GazetteThe gazette
by Wayne Heilman
November 11, 2019