Taxable Sales Expected to Keep Moving Up
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It appears that the growth rate for taxable sales in Orange County hit a peak in 1996, but sales are expected to continue increasing at a respectable rate for the next five years.
Taxable sales in the county surged 8.6% to $32.5 billion in 1996, according to data recently released by the State Board of Equalization. That compares with a statewide gain of 6.7%, to $321.1 billion, and a 4.5% increase to $82.6 billion in Los Angeles County.
Orange County’s taxable sales are expected rise by another 7% to about $34.8 billion this year, according to Chapman University’s economic forecast. But in 1998, the growth in used car and food store sales is expected to taper off, bringing the rate of increase to 6.2%. Brisk sales of building materials will help keep total sales rising, economists believe.
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Patrice Apodaca covers economic issues for The Times. She can be reached at (714) 966-5979 and at [email protected].
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