ALEXANDRIA – The Louisiana State University of Alexandria College of Business has released the mid-May issue of the CENLA Economic Dashboard.
April sales tax revenue increased between 15% and 41% in Rapides, Avoyelles, Evangeline, and St. Landry which reflected overall sales activity in March, while vehicle sales tax revenue increased between 16% and 45% in those parishes during the period.
“March consumer spending in Central Louisiana was much stronger than expected according to April tax revenues,” said Dr. Randall Dupont, Dean of the LSUA College of Business. “Louisiana small businesses are optimistic (referring to a recent U.S. Census survey).”
Although 45% of small businesses in Louisiana said COVID-19 had a large negative impact on their business, it fell below the 51% nationwide response according to a new Small Business Pulse Survey conducted by the U.S. Census Bureau.
Likewise, Louisiana small businesses were more optimistic on recovery time and received more assistance from the Payroll Projection Program than the national average. Thirty-eight percent of the small businesses surveyed in Louisiana between April 26 and May 2 expect the economy to recover in one to three months, compared to 28% nationwide. Furthermore, 48% of Louisiana small businesses received assistance from the Payroll Protection Program compared to 38% nationally.
To view the May 18th CENLA Economic Dashboard, click here.