Retail sales rise in July
Retail sales in July rose 2.5% over the same month last year, thanks to strong gains in business operating sales.
Total taxable retail sales in July were $1.62 billion, according to the Maine State Planning Office. Business operating sales, mostly out-of-state purchases by Maine businesses, rose 8.4%,while building supply sales showed strong year-over-year growth for the second straight month, jumping 6.6%. The increase is most likely due to last July's dropoff in building-related sales following the expiration of federal homebuyer tax credits. Declines were seen in general merchandise sales, which fell 2.2%, and auto/transportation sales, which dropped 1.4%.
Total sales for the last three months, May through July, are 3.2% higher than the same three-month period a year ago.
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