Restaurant industry still highly vulnerable
While many of 2020’s economic challenges due to COVID-19 will carry into next year, the most recent forecast for the state’s retail industry shows more promise than first expected. At press time, the Washington state Department of Revenue’s most recently available retail sales figures covered the second quarter of 2020. Spokane County’s taxable retail sales declined 6% in the second quarter this year compared with the year-earlier quarter, to $2.75 billion from $2.94 billion in Q2 2019. While final third-quarter figures aren’t available yet, the state’s Economic & Revenue Forecast Council last month reported better-than-expected revenue figures across all of Washington.