Taxable spending in Southwest Louisiana rebounded by 29% in June after dropping sharply in April and May. However, spending in the first half of this year is down nearly 3% compared to the same period a year ago. A report prepared by the H.C. Drew Center for Economic Development at McNeese State University points to utilities as the biggest growth area – up more than 152% in the first six months of 2009 from the same period a year ago. Food rose nearly 18%; merchandise was up less than 1%. Every other spending category experienced declines. Motor vehicle sales were down more than 23%; building materials, 16%; miscellaneous services, 15%; miscellaneous and automotive sales, both down more than 9%; manufacturing, down almost 7%; apparel, down nearly 2%; and furniture, down less than 1%.
Spending rebounds in Southwest Louisiana
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