Ohio’s monthly budget report, released this week, shows that income tax revenues in April fell 50% below estimates. Auto sales taxes were off by 57% and other sales tax revenues were nearly 18% below the forecasted level. Altogether, tax revenues were down $872.4 million at the end of April.
The budget report says Ohio manufacturing production decreased by 6.3%, and 3,900 manufacturing jobs were lost in March. Within durable goods, which saw production drop 9.1%, the motor vehicles and parts industry fell by 28%. 5/13/2020