Wednesday, September 26, 2012

Biz Barometer

Local Economy Improves   
Pekin’s sales tax disbursement received from the state in September was 4.7% greater than September of 2011.
Pekin’s sales tax disbursements received from the state for the last 3 months were 8.2% greater than the same three months in 2011.
The other three large communities on the east side of the Illinois River also showed increases in September compared to September of 2011:  Morton (+3.6%), Washington (+1.1%), and East Peoria (+1.1%). 
For the 12-months ending in September, all four communities showed an increase in sales tax receipts from the state, compared to the 12-months ending in September of 2011:  East Peoria (+10.8%),  Pekin (+5.5%),  Morton (+5.3%), and Washington (+3.0%).
The number of residential units sold in the 61554 zip code for the first eight months of 2012 was 3.0% less than the same period in 2011.
The other large Tazewell communities are showing large increases in residential unit sales for the first eight months of 2012, compared to the first eight months of 2011:  Washington (+30.7%),  Morton (+33.8%), and East Peoria (+35.2%).
The average sales price of residential units in the 61554 zip code for the first eight months of 2012 is $110,986. That is 8.4% greater than the average sales price for the first eight months of 2011.
The average sales price of residential units in the other large Tazewell communities is also up compared to the first eight months of 2011:   East Peoria (+5.3%), Morton (+11.0%), and Washington (+0.9%)
Nationally, non-farm payroll employment rose by 96,000 in August, while the unemployment edged down to 8.1%
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in August on a seasonally adjusted basis. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.
Sources:  Illinois Department of Employment Security; Illinois Department of Revenue; Peoria Area Association of Realtors; Bureau of Labor Statistics

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