Sales and Use Tax Collection improves slightly but is still declining

Sales and use tax collection continues to decline after adjustments for inflation. Using a weighted composite for the four largest states (California, Texas, New York, and Florida), the decline in real growth improved slightly to an annual decline rate of -2.13% in July up from a rate of -2.20% in June. Texas grew at a rate of 4.49% in July after adjustments for inflation which is down from the hot pace of 8.37% it averaged for 2007. New York's growth was flat at 0.04%. California's decline was at -4.88% in July, the same as it was in June.  California declined on average of -2.03% in 2007. Florida continued its steady fall, declining -8.46% in July. The growth rate in Florida has been lower than the previous month for 21 months straight.  Florida averaged a decline of -2.70% in 2007.

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