Cochise College Center for Economic Research Economic Outlook Benson, Arizona

Cochise College Center for Economic Research Is the recession over yet?

Cochise College Center for Economic Research Seasonally Adjusted Annual Rate

Cochise College Center for Economic Research Compared to same month previous year

Cochise College Center for Economic Research New construction New/existing home sales Consumer spending/confidence Stock market/investor confidence Delinquent debt/foreclosures Employment

Cochise College Center for Economic Research Slow, steady economic growth Sustainability? Stabilization of labor market Double-dip recession? Inflation may become problematic in long term

Cochise College Center for Economic Research

Cochise County & Benson

Cochise College Center for Economic Research Inflation adjusted; compared to same month previous year

Cochise College Center for Economic Research

Cochise County 2010: 4.7% * 2009: -3.2% 2008: -6.5% 2007: -1.3% * Jan-Feb only Benson (Retail Sales Tax Revenue) 2010: 4.2% * 2009: -4.8% 2008: 0.6% 2007: 38.2% * Jan-Mar only

Cochise College Center for Economic Research Inflation adjusted; compared to same month previous year

Cochise College Center for Economic Research Cochise County 2010: -5.3% * 2009: 0.3% 2008: 0.2% 2007: 0.1% Benson 2010: -1.9% * 2009: 9.1% 2008: -0.6% 2007: -3.1% * Jan-Mar only

Cochise College Center for Economic Research Inflation adjusted; compared to same month previous year

Cochise College Center for Economic Research Cochise County 2010: 3.2% * 2009: -9.0% 2008: 1.0% 2007: 19.7% Benson 2010: 8.8% * 2009: -5.5% 2008: -7.5% 2007: 17.6% * Jan-Mar only

Cochise College Center for Economic Research Retail on solid path of recovery Continued strength in accommodation sales Restaurant and bar trending downward

Cochise College Center for Economic Research

* Jan-Apr only; seasonally adjusted

Cochise College Center for Economic Research Seasonally Adjusted

Cochise College Center for Economic Research Compared to same month previous year

Cochise College Center for Economic Research 24 months ending Apr 2010 * Includes mining

Cochise College Center for Economic Research 24 months ending Apr 2010 * Includes mining

Cochise College Center for Economic Research Stabilization in first half of 2010 Job growth in second half Unemployment rate will remain high into 2011

Cochise College Center for Economic Research

Single Family Residential Building Permits

Cochise College Center for Economic Research Cochise County 2010: 156 ( 59.2%)* 2009: 357 (-11.6%) 2008: 404 (-14.4%) 2007: 472 (-47.6%) 2006: 900 (-18.8%) 2005: 1,108 ( 5.9%) 2004: 1,046 ( 13.0%) 2003: 926 * Jan-Apr only Benson 2010: 25 (up from 18)** 2009: : : : : : : 0 **Jan-May only

Cochise College Center for Economic Research

Cochise County 2010: 252 (-29.0%) * 2009: 1,162 ( -1.9%) 2008: 1,184 (-21.1%) 2007: 1,500 (-10.4%) 2006: 1,675 (-20.1%) 2005: 2,097 ( 14.9%) Benson 2010: 21 ( 16.7%)* 2009: 101 ( -1.9%) 2008: 103 (-28.0%) 2007: 143 ( -0.7%) 2006: 144 ( 0.7%) 2005: 143 ( -5.9%) * Jan-Mar only

Cochise College Center for Economic Research *Jan-Mar only

Cochise College Center for Economic Research Cochise County 2010: $173,172 ( -1.0%) * 2009: $182,500 ( -0.8%) 2008: $184,000 ( -5.6%) 2007: $195,000 ( 1.3%) 2006: $192,569 ( 10.7%) 2005: $173,900 ( 24.3%) 2004: $139,900 Benson 2010: $146,563 ( -7.1%) * 2009: $155,000 ( 6.9%) 2008: $145,000 ( -9.4%) 2007: $160,000 ( 24.1%) 2006: $128,950 ( 29.0%) 2005: $100,000 ( 21.6%) 2004: $80,250 * Jan-Mar only; comparison to same period a year prior

Cochise College Center for Economic Research New residential construction on path of recovery Existing home sales at bottom Home prices should continue to hold or decline modestly

Cochise College Center for Economic Research Recession is over (just not officially) Benson and Cochise County fared better than many other areas Major sectors of local economy have shown improvement Employment continues to lag

Cochise College Center for Economic Research