Wednesday, July 6, 2011

June Revenue Shows State Economic Growth Accelerating

Treasurer warns Washington inaction on debt could harm state recovery

Oklahoma’s economy is expanding at an accelerating pace, Treasurer Ken Miller said yesterday as he released the revenue report on total tax commission collections in June.

“Now entering the third year of the cyclical expansion, Oklahoma’s double-digit revenue growth last month shows our state’s economy is clearly regaining its strength while the national economy continues its rather anemic growth.” Miller said.

“Gross receipts, reflecting a cross-section of the state’s economic activity, are encouraging from top to bottom,” he said. “Again this month, every major category shows growth with earnings and consumption especially strong.”

June collections compared to a year ago surged by more than 15 percent, the report from the state treasurer’s office shows. Collections for the past 12 months are almost eight percent above the trailing 12 months, according to the report. “Month after month, the Oklahoma economy gains steam,” Miller said. 

External Threats

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