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The City Café

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Stop Lites Dec2012DOUG MACDONALD

Almost all of the indicators are improving, except for unemployment claims, which stopped falling in June.  Some surprises were:

1) Consumer sentiment jumped up into the 80s, good news for car and truck dealers.

2) The average wage for the first half of 2012 shifted up from 2% to 3.5%, indicating some improvements in the labor sector for employees (consumers).

3) Residential construction values are up almost 14% this year, this adds about 1.4% to sales tax all by itself.

4) Sales tax receipts for the first quarter of fiscal year 2013 are up 7.2%, slightly below our forecast last December of 7.8% for FY2013.

Now, if we can just not go too far over the cliff.

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