The retail sales gain in 2012 should be slightly

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Unformatted text preview: rado Business Economic Outlook Committee. continued on page 42 41 2012 Colorado Business Economic Outlook RETAIL SALES 2003-2012 RETAIL SALES, 2003–2012 (In Billions of Dollars) Trade, Transportation, and Utilities (In Billions of Dollars) continued from page 41 increases in population and inflation. The downside risk of a major negative shock from a worldwide financial meltdown or some other peril still lingers. Motor Vehicle Year 2003 2004 2005 2006 2007 2008 2009 2010 2011b 2012c Sales by motor vehicle and parts stores have seen the strongest increases of any category since the beginning of 2010. New auto purchases weakened in mid-2011 due to economic concerns and low inventories of many Japanese models, but posted a solid gain in September. Years of subdued buying in Colorado left a reservoir of pent-up new car demand. Sales are expected to climb in 2012, although the gain will not be as strong as in 2010 or 2011. Food store sales will slow as price increases moderate. General merchandise sales will benefit from modest improvement in the overall economy. A...
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