Arkansas: Economy expanding? | Arkansas Blog

Wednesday, August 11, 2010

Arkansas: Economy expanding?

Posted By on Wed, Aug 11, 2010 at 8:34 AM

I've noted in recent state revenue reports the growth in sales tax revenue, a pretty good measure of economic activity, or at least retail sales.

Now comes a report — just in time to respond to Republican Jim Keet's complaint yesterday that Gov. Mike Beebe isn't sufficiently gloomy about the state of things in Arkansas (who dreamed up that campaign theme — "It sucks here worse than you think"?).

UALR's Institute for Economic Advancement says taxable sales have now increased for three consecutive quarters and the most recent quarterly results indicate accelerating expansion.

As Beebe might say: Not bad in the midst of terrible economic times nationally.


Arkansas Taxable Sales Up 4 Percent in the Second Quarter of 2010

The Institute for Economic Advancement (IEA), at the University of Arkansas at Little
Rock’s College of Business, announced the release of new preliminary* data showing a 4
percent increase in Arkansas Taxable Sales during the second quarter of 2010. The
increase follows a revised 2.6 percent expansion in the first quarter, and represents the
third consecutive quarterly increase.

Chief Economist and State Economic Forecaster for the IEA, Dr. Michael Pakko, said
that the growth compares favorably with nationwide trends, “We saw a bit of a slowdown
in U.S. retail sales in the second quarter. In constrast, the preliminary data for Arkansas
suggest ongoing expansion—at an accelerating pace.”

The IEA’s Arkansas Taxable Sales data are based on sales and use tax reports from the
Arkansas Department of Finance and Administration. After making adjustments for lags
in the tax collection process, changes in tax law, and regularly fluctuating seasonal
patterns, the resulting statistics indicate growth in the underlying tax base — primarily
retail sales.

Details about the construction of the Arkansas Taxable Sales series and a spreadsheet of
recent data are available on Pakko’s web page,
*Statistics for the second quarter of 2010 are preliminary, pending the forthcoming
publication of detailed data in the Department of Finance and Administration’s report,
Arkansas Fiscal Notes, for July 2010.

Tags: , , ,

Sign up for the Daily Update email

Comments (4)

Showing 1-4 of 4

Add a comment

Subscribe to this thread:
Showing 1-4 of 4

Add a comment

More by Max Brantley

Readers also liked…

  • Donald Trump declares war on Hillary Clinton's marriage

    Donald Trump gave a remarkable interview to the New York Times yesterday in which he declared open season on the marriage of Bill and Hillary Clinton and Bill Clinton's past infidelity. Seems like a loser, but I've been wrong before.
    • Oct 1, 2016
  • The LR chamber does the public's business. Is it accountable? Blue Hog on the case.

    Matt Campbell, lawyer and Blue Hog Report blogger, has sent a Freedom of Information Act request to Jay Chessir, director of the Little Rock Regional Chamber of Commerce, and Mayor Mark Stodola related to the publicity stunt yesterday  built around withdrawing from the mayor's rash pronouncement that the city would seek an Amazon HQ2 project even though the city  didn't meet the company's criteria.
    • Oct 20, 2017
  • The inspiring Hillary Clinton

    Hillary Clinton's campaign for president illustrates again the double standard applied to women. Some writers get it. They even find the supposedly unlikable Clinton inspiring.
    • Oct 16, 2016

Most Viewed

Most Recent Comments



© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation