Fort Smith Economy: Some Good, Some Bad

The Fort Smith regional economy continued to send a mixed message in January, according to a report released by the Center for Business Research and Economic Development at the University of Arkansas — Fort Smith on Monday.

The Monthly Economic Indicators Index showed continued improvement in year-over-year residential construction activity, as well as auto sales and overall jobs numbers. Retail sales, home sales and airport traffic counts were lower, however.

Retail sales, specifically, were down 4.4 percent.

“While I can’t say I was particularly surprised by the December retail sales number, I had hoped for a stronger finish to close out 2012,” CBRED director Kermit Kuehn said in the report.

Residential construction permit activity and home sales, meanwhile, reflected the up-and-down nature of the report. While permits were up 22 percent from a year ago, home sales were down 2 percent and the average price of homes sold was down almost $20,000.

The report, which is sponsored by Arvest Bank, showed 200 more jobs in the five-county Fort Smith Metropolitan Statistical Area than at the same time last year. Even that news, though, was tempered.

“Annual revisions just completed by the Bureau of Labor Statistics made for some significant changes in headcounts in key sectors such as manufacturing and construction,” Kuehn said.