October Taxable Sales Increase, Annual Growth Rate Now Ahead of 2017

The most recent information from the Florida Department of Revenue shows that consumer spending in Leon County-as measured by taxable sales- was up in June by 5.7% when compared to spending one year ago. In absolute terms, spending in October 2018 was up $19.2 million to $359.9 million. These numbers are preliminary and are subject to revisions.

At the state level, Florida experienced a 15.5% increase in October spending when compared to last year.

The Taxable Sales Report below shows that Leon county’s aggregate spending over the last 12-months ($4.317 billion) as of October 2018 was 2.7% greater than the aggregate 12-month spending reported in October 2017 ($4.205 billion).

At the state-level, annual spending as of October 2018 increased 7.4% when compared to annual spending one year ago.

The chart below compares the change in aggregate spending for the previous 12-months in Leon county for each year since 2014 with the statewide numbers.

For Leon county, the 2018 growth in taxable sales (2.7%) is just ahead of the 12-month growth rate for 2017. However, the chart shows that the growth rate over the last 12 month period has been slower than during comparable periods in 2014, 2015, and 2016.

At the state-level, taxable sales growth for the last 12-month period (7.4%), is currently exceeding the 12-month growth rate reported one year ago (3.1%).

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