Sales tax receipts up

FINDLAY — Hancock County's sales tax receipts for the first three months of this year are up 4.4% from the same period a year earlier, to $5.3 million, County Auditor Charity Rauschenberg reported. The 1% county sales tax historically has provided about 60% of county general fund revenue. It is one bellwether for the economy. However, other signs are not so favorable for the U.S. economy for the rest of this year, The Conference Board, a nonprofit think tank and business membership organization, reported Thursday. "Headwinds including rising consumer debt and elevated interest rates will weigh on economic growth," The Conference Board stated. "While we no longer forecast a recession in 2024, we do expect consumer spending growth to cool and for overall GDP (gross domestic product) growth to slow to under 1% over (the April through September period)." In the last quarter of 2024, things should improve. "Inflation and interest rates should normalize and quarterly annualized (gross domestic product) growth should converge toward its potential of near 2 percent in 2025," The Conference Board stated.