Andal Announces 1999 Taxable Sales - Third Quarter - News Release - 2000
Andal Announces 1999 Taxable Sales - Third Quarter
Dean Andal, Chairman, State Board of Equalization (BOE) announced today that taxable sales in California continued to grow at a strong rate during the third quarter of 1999. Transactions subject to sales and use tax totaled $100.5 billion during the third quarter of 1999, an increase of $9.1 billion or 9.9 percent over the third quarter of 1998.
In constant dollar terms, taxable sales grew by 9.3 percent over the same quarter a year ago. The California Taxable Sales Deflator measured an inflation rate of 0.6 percent for the third quarter of 1999.
Retail stores posted taxable sales of $64.9 billion, an increase of 11.4 percent over the same period a year ago. Retailers of durable goods experienced a 13.6 percent increase, while non-durable goods retailers experienced a 9.3 percent increase.
In the durable goods category, new car dealers had another quarter of double-digit growth; the seventh in the last nine quarters. New car dealers posted taxable sales of $10.6 billion during the quarter, a 15.6 percent increase over the third quarter of 1998. This follows the 13.1 percent increase shown in the second quarter of 1999. Retailers of building materials registered continuing strong growth in sales as California's construction industry continued to perform well. Building material dealers posted taxable sales of $5.4 billion, up 13.4 percent from a year ago. However, construction contractors grew moderately and had taxable transactions of $4.5 billion, an increase of 6.2 percent from the third quarter of 1998.
Gasoline consumption changed very little and measured 3.7 billion gallons. That increase was slight to moderate, representing a 4.4 percent increase from the third quarter 1998, even though the average price of gasoline during the third quarter was $1.386, a 21.7 percent increase from the previous year's price. Service station sales during the third quarter increased significantly, posting a 21.2 percent increase when compared with the third quarter 1998.
Most other non-durable goods retailers experienced various levels of sales. Restaurants had sales of $8.3 billion, increasing 7.9 percent while general merchandise stores realized sales of $8.8 billion, an increase of 9.7 percent