Colorado Retail Sales

By: AP
By: AP
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Colorado retail sales are up, but retail sales taxes are trailing that growth.

Sales grew by about seven percent in the first half of 2004 compared with the same period last year. Tax income grew by less than six percent.

The Colorado Department of Revenue says sales totaled more than 53 billion dollars statewide through June, up from about 50 (b) billion dollars in the first half of 2003.

An economist with Development Research Partners in Jefferson County says it's normal for sale tax growth to trail that of retail sales.

Patty Silverstein says the lag means it'll take longer for state and municipal governments to benefit from the improving economy.

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