Thursday, August 4, 2011

July Revenue Shows Moderated Economic Growth

OKLAHOMA CITY – July revenues show moderate economic growth as collections continue to beat the prior year, although collections have pulled back from the double-digit numbers seen last month, Treasurer Ken Miller said earlier this week as he released the state’s monthly gross revenue report.
“July collections were up by 6.8 percent from July of last year and 14.4 percent above July 2009,” Miller said. “With year-over-year growth last month exceptionally strong at 15.5 percent, it is not surprising to see growth moderate some this month.”
Miller said collections over the past 12 months totaled $10.259 billion; the highest level since July 2009, when 12-month collections totaled $10.402 billion.

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