This indicator measures the year-over-year growth in Gross Receipts Taxes (GRT) as a percentage of overall economic activity.
This indicator is part of Businesses develop & prosper.
This indicator measures the year-over-year growth in Gross Receipts Taxes (GRT) as a percentage of overall economic activity. The one percent distribution provides a consistent measure of the growth of the tax base and measures the general health of the local economy. It is not affected by changes in the tax rate. For comparison, Personal Consumption Expenditures for the United States is a similar measure of the health of the U. S. economy.
Why is this indicator relevant?
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Growth in Gross Receipts Taxes (GRT) is an indicator of the health of the local economy. Growth indicates more trade at those businesses that pay gross receipts taxes. GRT growth also provides prospective on how well the Albuquerque economy is performing in relation to the national economy, as measured by U.S. Personal Consumption Expenditures.
What can we tell from the data?
- The year-over-year growth of the one percent distribution in Albuquerque averaged 2.45% over the last fiscal year (2011 to 2012).
- Annual growth in U.S. Personal Consumption Expenditures increased from 2009 to 2011, but then began a slow decline slightly in 2012.
- The effects of the recession in Albuquerque are similar to those of the national economy, but appeared earlier due to the local slowdown in construction.
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