Retailers began clearance sales in July to move out summer merchandise, and this gave a slight boost to sales. The clearance sales also helped bring inventories to appropriate levels, according to most of the store executives polled in July. Merchants believe consumer confidence remains high, and they expect a pickup in sales as the fall selling season approaches. Sales of automobiles and light trucks slowed in July, according to dealers in the region. Dealers said their inventories have increased, but they are not much above desired levels.
Manufacturers continue to offer extensive rebates and incentive financing.
Tourism Tourism officials around the region report very high levels of tourist, lodging, and recreational activity. Hotels and campgrounds have been at full occupancy in ocean beach resorts and mountain recreation areas, and some seashore resorts have posted records for daily visitation. Amusement and theme parks also report high attendance. Business has been above expectations at restaurants and stores in resort areas. Contacts indicated that increased gasoline prices do not appear to have reduced auto travel within the region.