"We sound like a broken record up here."
Tax Commissioner Cory Fong says that’s because the state is again showing an increase in taxable sales and purchases. The latest report is for the third quarter of 2012 – encompassing the months of July, August and September. The total taxable sales and purchases for that three month period were $6.7 billion dollars – up more than $1.2 billion from the same quarter in 2011.
"I really does demonstrate again how our economy stands out compared to other states across the country," said Fong. "We have a strong housing market, we have a record number of workers coming into the state -- all of this is contributing to a very upbeat economy. And consumer confidence is very strong."
Fing says the numbers are up 22 percent from the same time last year. He says that actually indicates the economic growth is moderating somewhat.
"Some of our pervious reports have been upwards of 30-plus percent, 40 percent, 50 percent growth," Fong said. "This is down to 22 percent. It's still a very strong report, but it demonstrates that maybe there's been some moderation in our economy. That's probably a good thing. It's still growth over growth, which is impressive, but it's demonstrating that maybe it's moderating a bit, which I think is probably a good sign."
Fong says he’s been talking to retailers – and he thinks the fourth quarter report, which will reflect Christmas sales, will be strong as well.
