First quarter Glenwood Springs sales weather lack of winter weather | PostIndependent.com

First quarter Glenwood Springs sales weather lack of winter weather

U.S. currency in a bull market.
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After one of the driest ski seasons in recent history, the city of Glenwood Springs, financially speaking, fared better than the slopes.

From New Year’s Day to March 31, the city collected $3,889,043 in sales tax, a 1.29 percent increase compared with Glenwood’s $3,839,451 sales tax earnings during its first financial quarter in 2017.

Comparatively, though, for the first three months of 2017, the city saw a 2.03 percent increase in its sales tax earnings compared with the prior year. That means, while the first financial quarter sales tax earnings in 2018 were up 1.29 percent, the city also saw a 0.74 percent decrease in growth compared with sales tax growth from first quarter 2016 to 2017.

For March alone, Glenwood saw a 2 percent increase in the year-over-year monthly comparison. That, after sales were down nearly 1.2 percent in February.

A clear indicator of how the local economy performs, the sectors in 2018’s first financial quarter that saw the largest percent increases were apparel and accessories at 10.63 percent, miscellaneous retail at 12.81 percent, and health and recreation at 13.54 percent.

General merchandise stores, food stores, furniture and home furnishings, eating and drinking places, and motel and hotel industries all stayed within the 0.14 to 4.69 percent increase range compared with 2017’s first financial quarter.

The industries which saw the biggest dip in their first financial quarter numbers compared with those of last year’s included transportation and utilities at -2.05 percent, business services at -3.89 percent, building materials and supplies at -4.67 percent, automotive and service stations at -7.49 percent, all other at -8.18 percent, personal services at -12.42 percent and marijuana at -13.86 percent.

In the last five years, during the first financial quarter, the city has collected the largest number of sales tax from the general merchandise stores at $3,143,725.

Also in those last five years, during the first financial quarter, Glenwood Springs as a whole has never seen a decrease in sales tax revenues from the previous year.