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Monday, 13 April 2009 |
 State - New statistics released by the Board of Equalization on first quarter 2008 suggest that the economic recession began in California –and more specifically, the Sacramento area, before it began nationally. California’s taxable sales fell 3.7 percent overall in the first quarter of 2008 versus a year earlier, but taxable sales in Sacramento County were down 5.3 percent. In Placer County, they were down 7.3 percent. All these numbers give a portrait of the economy when it was first entering the recession. There is a noticeable difference when comparing these numbers to other states during the same time period. Some economists are frustrated with the “enormous time lag” involved in releasing such numbers, but nevertheless say the data is interesting. Taxable sales totaled $127.9 billion in the first quarter of 2008, down $4.9 billion from the first quarter of 2007. How much more of a drop these numbers have taken since that time are still being studied and evaluated. In Amador County, the annual decline in first-quarter 2008 taxable sales was minus 10.6 percent, far more than a larger county like Los Angeles, which experienced a drop of only 2.3 percent. Alpine County experienced no decline, while Yolo County dropped just .2 percent and Kern County was off by only .4 percent. Automotive sales accounted for $3.7 billion of the first-quarter 2008 numbers. Retail businesses associated with eating and drinking made up $3.6 billion, and service stations generated another $3.2 billion. Story by Alex Lane
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