Sales tax collections — to include hospitality taxes —home sales activity and enplanement figures in the area are positive, but high jobless numbers continue to place downward pressure on the regional economy, according to data compiled for the February-March 2012 Numbers by the Wire report.
The Compass Report: Fort Smith Region
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The Compass Report is the only independent economic analysis of Arkansas’ top three metro areas (Central Arkansas, Northwest Arkansas, Fort Smith region). The report measures four leading and four current economic indicators to provide a grade for a regional economy. (Link here to see the most recent The Compass Report for the Fort Smith region.)
A key factor in understanding The Compass is in understanding the “grading” approach used to measure the current and leading economic indicators. The strategy is to place the most recent data in historical context. Average values for the percent change over the referenced time period were calculated, as were standard deviations for each measure.
The more similar current values are to historic averages the more likely the indicator grade is to be a “C.” The farther away the observed value, as measured by the standard deviation of the data, the more divergent the grade from “C.” In other words, “C” reflects no change in economic activity. The grades “B” or “A” indicate improvement above the historical average, and “D” and “F” indicate a decline in economic activity compared to the historical average.
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