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Taxable sales up on
A leap in taxable retail sales indicates the economy of Mercer Island is doing better than the state as a whole.
The dollar amount of taxable retail sales for the city of Mercer Island for the first quarter of 2005 were up significantly over the same three months a year ago.
All taxable retail sales for the city totalled $60,938,595 for the first three months of 2005. That amount represents a nearly 15 percent increase over the first quarter taxable retail sales of 2004.
The amount of retail trade alone which excludes such items as real estate sales, construction, utilities, financial services and insurance --considered a better measure of consumer purchases -- was up 18 percent over the same quarter a year ago.
Only three Washington state cities had greater percentage gains in the amount of retail trade.
Taxable retail sales for the state as a whole were up 8 percent for the first three months of 2005 over 2004. State retail trade was up 6.1 percent for the first quarter of 2005 over the first quarter of 2004.