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OKLAHOMA STATE TREASURER KEN MILLER For Immediate Release: April 3, 2014 Positive Momentum Continues in State Economy OKLAHOMA CITY – Energy production, personal income and consumption pushed revenue collections higher in March, State Treasurer Ken Miller announced today as he released the monthly gross receipts to the treasury report. Miller said collections in March grew by more than four percent over the same month of last year. The growth rate for the past 12 months also topped four percent. “In March, collections from oil and gas extraction and personal income grew by double digits, while sales and motor vehicle collections expanded by more than five percent,” he said. “Clearly, Oklahoma’s economy continues to do relatively well.” Total monthly collections have exceeded the prior year 10 times in the past year, with oil and gas production taxes up for 11 consecutive months. The March report shows only one major revenue stream with collections lower than last March – corporate income tax, which has dipped below the prior year in seven of the past 12 months. Positive data Miller said the state’s personal income, as announced late last week by the U.S. Bureau of Economic Analysis (BEA), sheds a positive light on the Oklahoma economy. “Last year, Oklahoma’s total personal income grew faster than the national average, as it has done in each of the four years since the Great Recession,” he said. “Total personal income was up 3.3 percent in 2013 at $160.1 billion, the seventh-highest growth rate in the nation.” The BEA report credits the energy industry as having the most significant impact on the growth rate. Unemployment figures also brought encouraging news to Oklahoma, Miller said. “The state’s unemployment rate dropped to 5 percent in February, a reduction of 0.2 percentage points from January,” he said. (more)
Object Description
Okla State Agency |
Treasurer, Oklahoma State |
Okla Agency Code |
'740' |
Title | Monthly revenue reports, 03/2014 |
Authors |
Oklahoma. State Treasurer. |
Publication Date | 2014-04-03 |
Publication type |
Financial Report |
Purpose | Positive Momentum Continues in State Economy; |
For all issues click |
T1400.6 M789r |
Digital Format | PDF, Adobe Reader required |
ODL electronic copy | Downloaded from agency website: http://www.ok.gov/triton/modules/newsroom/newsroom_article.php?id=222&article_id=13949 |
Rights and Permissions | This Oklahoma state government publication is provided for educational purposes under U.S. copyright law. Other usage requires permission of copyright holders. |
Language | English |
Month/year uploaded | May 2014 |
Date created | 2014-10-20 |
Date modified | 2014-10-20 |
OCLC number | 890230337 |
Description
Title | March_Gross_Receipts_PR_4-3-14 1 |
Full text | OKLAHOMA STATE TREASURER KEN MILLER For Immediate Release: April 3, 2014 Positive Momentum Continues in State Economy OKLAHOMA CITY – Energy production, personal income and consumption pushed revenue collections higher in March, State Treasurer Ken Miller announced today as he released the monthly gross receipts to the treasury report. Miller said collections in March grew by more than four percent over the same month of last year. The growth rate for the past 12 months also topped four percent. “In March, collections from oil and gas extraction and personal income grew by double digits, while sales and motor vehicle collections expanded by more than five percent,” he said. “Clearly, Oklahoma’s economy continues to do relatively well.” Total monthly collections have exceeded the prior year 10 times in the past year, with oil and gas production taxes up for 11 consecutive months. The March report shows only one major revenue stream with collections lower than last March – corporate income tax, which has dipped below the prior year in seven of the past 12 months. Positive data Miller said the state’s personal income, as announced late last week by the U.S. Bureau of Economic Analysis (BEA), sheds a positive light on the Oklahoma economy. “Last year, Oklahoma’s total personal income grew faster than the national average, as it has done in each of the four years since the Great Recession,” he said. “Total personal income was up 3.3 percent in 2013 at $160.1 billion, the seventh-highest growth rate in the nation.” The BEA report credits the energy industry as having the most significant impact on the growth rate. Unemployment figures also brought encouraging news to Oklahoma, Miller said. “The state’s unemployment rate dropped to 5 percent in February, a reduction of 0.2 percentage points from January,” he said. (more) |
Date created | 2014-05-23 |
Date modified | 2014-05-23 |