Thursday, December 1, 2011

State's Economy Continues Upward Trend

Oklahoma’s economy continues its upward trend as the state enters the Christmas season, State Treasurer Ken Miller said today as he released the state’s monthly gross receipts report.
“We are again seeing growth in all areas measured by revenue collections, which points to an economically healthy holiday season,” Miller said.

November collections were 13.2 percent higher than in November of last year, showing solid improvement in the state’s economy. It was the fourth time in the past seven months that collections grew by more than 10 percent over the prior year. Collections over the past 12 months are up more than nine percent from the previous 12 months.

Miller said gross revenue, a reflection of the state’s economic performance, has grown for 21 consecutive months.

“The last time 12-month receipts were higher than today was two-and-a-half years ago, in May 2009, when collections stood at $10.77 billion. Since we hit the depths of the recession in February 2010, almost two-thirds of the lost revenue has been recovered,” he said.

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