State general fund collections recorded double-digit growth in December and for the first six months of this fiscal year, according to reports released Tuesday.
Sales tax collections produced $153.5 million, or 5.7 percent more than a year ago, but came in below estimates.
More Oklahomans had jobs this Christmas than in 2010,” state Finance Director Preston Doerflingersaid. “But the sales tax figures for the first part of the holiday shopping period indicate our citizens were prudent in their spending, just as we need to be in state government as we move to modernize our agencies and systems for delivering services. We still face a difficult task in building a budget for the upcoming legislative session.”
A big reason for the economic growth has been the mini boom in the oil fields, which has generated activity throughout the state’s economy and contributed to the growing manufacturing base, said Doerflinger.
“But all signs point to our economy continuing to outperform other states in our region and the nation as a whole,” Says Doerflinger.