Slowdown Hit Stores in 2nd Quarter

While recent economic trends have signaled the beginning of a recession in Orange County, figures on taxable sales recently released by the State Board of Equalization indicate that the slowdown in the retail industry began more than six months ago. The county registered a 0.9% increase in taxable sales during the three months ended June 30, compared to the same quarter in 1989. The slight increase was below the growth of retail sales statewide, which increased 4.1% for the quarter. Phil Vincent, an economist for First Interstate Bank, said that when inflation is taken into account, Orange County’s taxable retail sales dropped 1.9%. “The Orange County economy has been growing much more slowly,” he said.

1990 1989 % City Retail Sales* Retail Sales* Change Anaheim 400,158 419,510 -4.6% Brea 110,791 92,702 +19.5 Buena Park 162,063 162,568 -0.3 Costa Mesa 429,212 447,727 -4.1 Cypress 42,990 35,202 +22.1 Dana Point 37,164 NA NA Fountain Valley 118,361 77,361 +53.0 Fullerton 223,272 230,680 -3.2 Garden Grove 224,549 230,439 -2.6 Huntington Beach 303,504 337,449 -10.1 Irvine 234,729 258,238 -9.1 Laguna Beach 39,849 41,193 -3.3 Laguna Niguel 44,031 NA NA La Habra 78,009 77,746 +0.3 La Palma 9,481 NA NA Los Alamitos 30,498 25,666 +18.8 Mission Viejo 105,276 106,883 -1.5 Newport Beach 200,508 190,191 +5.4 Orange 293,942 296,758 -1.0 Placentia 43,888 46,968 -6.6 San Clemente 46,402 42,773 +8.5 San Juan Capistrano 56,719 57,254 -0.9 Santa Ana 387,258 423,989 -8.7 Seal Beach 24,157 22,139 +9.1 Stanton 44,275 44,023 +0.6 Tustin 147,944 114,650 +29.0 Villa Park 2,923 NA NA Westminster 175,431 156,894 +11.8 Yorba Linda 33,075 27,492 +20.3 Total 4,341,000 3,966,000 +0.9

* In thousands of dollars Source: State Board of Equalization

RETAIL SALES A majority of the county’s citie saw a decline in 2nd quarter sales from 1989 to 1990.

Number of cities: PERCENT CHANGE IN SALES, 1989-90 4 -6.0% to -11.0% 9 -0.1% to -5.9% 5 0% to 9.9% 3 10.0% to 19.9% 4 20.0% or more