State's taxable retail sales up 7.1 percent in fourth quarter

 


Washington state’s taxable retail sales grew in the fourth quarter of 2014, rising 7.1 percent over the prior year. Taxable retail transactions between Oct. 1, and Dec. 31, 2014, increased to $33.4 billion. Retail trade, which is a portion of all taxable retail sales, jumped 5.4 percent to a total of $15.5 billion.

A roll-up of all taxable retail sales for 2014 is expected to be available mid May.

The figures are from a quarterly report prepared by the Washington State Department of Revenue. The Quarterly Business Review details the fourth quarter 2014 taxable sales by industry, as collected from tax returns. The report compares the fourth quarter of 2014 to 2013, equalizing any seasonal effects that would influence spending decisions.

Among the statewide trends in retail trade, which indicate consumer spending patterns:

· E-commerce and mail order sales rose 18.9 percent

· New and used car sales increased 9.4 percent

· Building materials and gardening equipment and supplies up 9.2 percent

· Department store sales dropped by 0.6 percent

Cathlamet's taxable retail sales fell 1.64 percent, or approximately $50,000, from the fourth quarter, 2013, to the fourth quarter of 2014, with a total of $1.88 million.

Retail sales in Wahkiakum County increased 0.46 percent, or approximately $600,000, from the fourth quarter of 2013 to the fourth quarter of 2014, with a total of $6.69 million.

 

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