August sales bounce back from July slump

By The Mercury

Local sales tax receipts bounced back in August from the slight decline that occurred here in July.

According to data made available Monday, the city received $905,589 in sales tax in October, a total that is up $169,254 from the previous month. Due to delays in reporting figures, October receipts actually represent sales transactions during August. The previous month’s figures, representing July sales activity, had been the first time in 10 months that sales in Manhattan had been slower than the previous year.

In comparison to August 2011, sales tax revenue moved up by $13,499. Bernie Hayen, the city’s finance director, said this was due to increased sales from auto dealerships and grocery sales. Both were up by 10 percent compared to the previous year.

For 2012, sales tax receipts are still up by 6.9 percent from the previous year. Revenues were also up compared to the city’s forecast, which expected $825,000 during the month.

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