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Benson Economic Outlook 2012

Benson Economic Outlook 2012. Gross Domestic Product. Seasonally Adjusted Annual Rate. Inflation (CPI). Compared to same month previous year. National Outlook. Continued slow economic growth Labor market generally improving Short- and long-run inflation threat remains. GDP by State.

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Benson Economic Outlook 2012

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  1. Benson Economic Outlook 2012
  2. Gross Domestic Product Seasonally Adjusted Annual Rate
  3. Inflation (CPI) Compared to same month previous year
  4. National Outlook Continued slow economic growth Labor market generally improving Short- and long-run inflation threat remains
  5. GDP by State

  6. The Local Economy

    Cochise County & Benson
  7. COCHISE COUNTY Retail Sales Growth Inflation adjusted; compared to same month previous year
  8. Benson Retail Sales Tax Revenue GROWTH Compared to same month previous year; unadjusted
  9. Retail Sales Recent Activity Cochise County 2012: 1.3% * 2011: -1.2% 2010: -4.8% 2009: -4.2% 2008: -6.5% 2007: -1.3% Benson (Retail Sales Tax Revenue) 2012: -2.4% * 2011: -5.6% 2010: -0.4% 2009: -4.8% 2008: 0.6% 2007: 38.2% * Jan-Apr only; comparison to same period the previous year
  10. Restaurant and Bar Sales Growth Inflation adjusted; compared to same month previous year
  11. Restaurant & Bar Sales Recent Activity Cochise County 2012: -3.3% * 2011: -0.2% 2010: 0.0% 2009: 0.3% 2008: 0.2% 2007: 0.1% Benson 2012: -9.6% * 2011: -11.1% 2010: -3.7% 2009: 9.1% 2008: -0.6% 2007: -3.1% * Jan-Apr only; comparison to same period the previous year
  12. Accommodation Sales Growth Inflation adjusted; compared to same month previous year
  13. Accommodation Sales Recent Activity Cochise County 2012: -11.0% * 2011: -13.1% 2010: 8.3% 2009: -9.0% 2008: 1.0% 2007: 19.7% Benson 2012: -25.6% * 2011: -6.1% 2010: 1.0% 2009: -5.5% 2008: -7.5% 2007: 17.6% * Jan-Apr only; comparison to same period the previous year
  14. Sales Outlook Modest retail sales growth (countywide); slight decline (city) Restaurant and bar and accommodation sales trending downward (city & countywide) I-10 construction, gas prices, and potential defense cuts

  15. Employment

  16. Unemployment Rates * Jan-May only; seasonally adjusted
  17. Monthly Unemployment Rates Seasonally adjusted
  18. Cochise CountyNonfarm Job Growth Compared to same month previous year
  19. Cochise CountyJob Gains/Losses By Industry 12 months ended May 2012 * Includes mining
  20. Cochise CountyJob Growth Rate By Industry 12 months ended May 2012 * Includes mining
  21. Employment Outlook Local labor market generally improving Sustained improvement likely through 2012-2013

  22. Housing and Real Estate

  23. New Home Construction Single Family Residential Building Permits
  24. MLS Home Sales
  25. Median Home Price * 1st Quarter only
  26. Outlook New residential construction picking up countywide Benson new construction down, but above historical levels (pre-2006) Boost from foreclosures/lower prices/lower interest rates 2012 median price likely to increase from 1st quarter
  27. Conclusion Moving in the right direction, but slowly Sales locally continue to struggle, especially hospitality Defense spending and I-10 construction Labor market improvement will give boost Construction and home sales picking up Long-term inflation threat
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