Tri-Cities retail sales tax collections saw their best year-to-year performance in August. Compared to August last year collections in the seven-county area were up 5.6%. And, according to MTSU’s Business and Economic Research Center seasonally adjusted totals they were 2.3% better than July.
A normal pattern would be increasing collections into the holiday buying season. But there’s nothing normal about this year. The government shutdown is beginning to take a toll on consumer confidence. The question that no one can answer is how much of a hit will the economy take?
CLICK HERE for the full report.