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Cash registers ringing up recovery.

Consumer demand is pacing the economic recovery, in Indiana as well as across the nation.

The July retail trade data for individual states shows Indiana's total--fully adjusted for seasonal and trading-day changes--to be $3.33 billion. That was up 0.3 percent from June and 2.8 percent greater than the figure from a year earlier.

Unadjusted July total retail sales numbers put Indiana 4.2 percent ahead of the year-ago figures, while the accumulated volume for the first seven months of 1992 was 4.1 percent greater than that for the same period of 1991. The figures for the nation as a whole were similar, and only Ohio had a greater gain among Great Lakes states.

Comparing the monthly total dollar sales by region, the five Great Lakes states' July total is the second-largest of the nine "official" geographic regions of the country, behind only the eight-state South Atlantic region that stretches from Delaware to Florida.

South Atlantic states rang up a total of $29.4 billion in sales in July, while Great Lakes states' total sales were $27.1 billion. That strong comparative performance is a bit out of the ordinary for the Great Lakes region, and it reveals that the recent recession had a more moderate impact on consumer demand in the Midwest than elsewhere in the nation.

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Title Annotation:Indiana Indicators
Publication:Indiana Business Magazine
Date:Nov 1, 1992
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