OK Economy Still Moving Forward
The State Treasurer says Oklahoma’s economy is moving in the right direction according to gross revenue collections while most of the US is still slow to recover.
State Treasurer Ken Miller says August Gross collections jumped more than 15% over last year mostly due to major increases in oil and gas revenue.
Miller says his biggest fear is the situation on the national and international front could eventually catch up to Oklahoma.
“At some point the malaise in the rest of the country and certainly in Europe will take affect here in Oklahoma, you just can’t swim against tide forever.”
Miller says consumer confidence dropped by about five points, but still remains above 50% which indicates economic growth.
Oil and gas revenues brought in more than $100 million with an increase of 41% over August of 2010.