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City economist reports steady GRT growth; retail lags, construction up
Summary
City economist Christine Borner told the council that March receipts and the full quarter show a 4.2% growth for the quarter and a 2.8% cumulative growth for the fiscal year-to-date; overall FY26 general fund revenue was expected to grow about 4.4% over FY25 estimates.
City economist Christine Borner told the City Council the latest gross receipts tax (GRT) data for March produced a 4.2% growth rate for the quarter, bringing cumulative fiscal-year-to-date growth to 2.8%.
Borner said retail GRT performance remained weak compared with the prior year (down around 1% year-over-year for the sector), while construction showed…
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