Pueblo’s economy off to slow start in 2017
Usually strong auto sales dipped, while hotel stays jumped.
Strong spending habits were down in Pueblo, according to city manager Sam Azad. General sales tax fell by 4.3 percent compared to January 2016.
“In fact, consumer spending sank considerably in January compared to last year,” Azad said in an email. “Overall sales and use tax revenue declined 5.1 percent relative to January of 2016.”
But overall revenue was up 12 percent in the first month of the year. The lodger’s tax, an indicator of tourism, was up 11 percent.
Auto sales were down — a typically strong driver of local consumer spending — while department stores and resturants led the pack.
“Unlike national consumer spending pattern for the month of January, our local consumers lost a little confidence. A lower spending after the holiday season is somewhat expected,” Azad said.
“In reality, the local economic conditions remain stable. Therefore, we anticipate a better consumer participation in the local economy for the remaining of the first quarter this year.”
