| Gross Receipts to the state Treasury for the past 12 months outpace the prior year’s revenue 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. |
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| Other Indicators The U.S. jobless rate rose to 3.8 percent in August, up by 0.3 percent from 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. As measured by the Consumer Price Index, the U.S. Bureau of Labor Statistics reports the annual inflation rate rose in August to 3.7 percent. The energy component of the index still showed a decline over the year, dropping 3.6 percent, but the food index remained higher than the overall inflation rate, ending the month at 4.3 percent. Regional economic trends continue to indicate cautious optimism. 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, growing to 53.7 from 46.9 the previous month. |
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| About Gross Receipts to the Treasury The monthly Gross Receipts to the Treasury report, developed by the State Treasurer’s Office, provides a timely and broad view of the state’s economy. It is released in conjunction with the General Revenue Fund report from the Office of Management and Enterprise Services, which provides information to state agencies for budgetary planning purposes. The General Revenue Fund, the state’s main operating account, receives less than half of the state’s gross receipts with the remainder apportioned to other state funds, remitted to cities and counties, and paid in rebates and refunds. Later this month, please look for the Oklahoma Economic Report which provides a broader economic overview. |
View full PDF report below.
