Good economic outlook projected to continue

Everything’s coming up roses, economically speaking, county officials say.

In a quarterly key financial indicators report that was presented to county supervisors Dec. 12, senior budget analyst Gerard Durkin said the county is partaking in the second largest economic expansion in the nation’s history (114 months).

The county’s unemployment rate is 2.7 percent, he said, and noted that the sales tax revenue for the year is up 5.4 percent from last year.

“We expect strong performance throughout Fiscal Year 2019 and heading into Fiscal Year 2020,” he said.

Durkin sounded a note of caution, however, and noted that corporate and consumer debt has increased 17 straight quarters after declining for a number of years. In addition, the number of automobile loans 90-plus days past due is increasing.

“Nevertheless, the outlook for Chesterfield is positive,” he said.
The report can be viewed at blueprint.chesterfield.gov.