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Data Alert: New Retail Sales Data Portend Continuing Weakness for State Tax Collections

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Publication Date: July 2010

Publisher(s): The Nelson A Rockefeller Institute of Government

Author(s): Donald J. Boyd

Series:

Special Collection:

Topic: Banking and finance (Taxation and tax policy)
Economics (Consumers and consumption)

Keywords: Tax Collections; State Revenues; Retail Sales; State Fiscal Issues

Type: Report

Abstract:

Retail sales data for June continue a string of news that portends ongoing weakness in state tax collections. Retail sales are down for a second month in a row and remain more than 7 percent below their pre-recession peak after adjusting for inflation.