Oklahoma Treasurer Todd Russ released the September Economic Report this week, a repeat of information released earlier in the month.
Gross Receipts to the state Treasury for the past 12 months outpaced the prior year’s 12 months in September.
While the downward trend from the March record annual high of $17.64 billion continues, the 12-month total of $17.14 billion is still $110.66 million or 0.6 percent higher than the previous year’s revenues.
The September receipts of $1.475 billion were $225 million or 18 percent more than the $1.25 billion generated in August.
When comparing this as a single month to last September, the revenue totals show a drop of $113.6 million or 7.1 percent. This monthly comparison shows the Gross Production Tax component, which are receipts from energy sources, fell from $184.7 million to $93.4 million, a decrease of $91.3 million or 49.4 percent month to month.
OTHER INDICATORS
- The U.S. jobless rate rose to 3.8 percent in August, up by 0.3 percent when compared to the previous month. Oklahoma’s unemployment rate also had a modest increase for the month ending at 2.8 percent, up by 0.1 percent in August.
- Regional economic trends continue to indicate cautious optimism for Oklahoma. The Creighton University Mid-America Business Conditions Index for the nine-state region increased from 49.5 to 52.5 in September, rising above growth neutral. The Oklahoma component of the index showed solid improvement in September, rising to 53.7 from 46.9 the previous month.
