Oklahoma Economy Grew In November, Even Without Black Friday

Dec 4, 2013

State Treasurer Ken Miller
Credit State of Oklahoma

Oklahoma's economy continued to grow last month.

State Treasurer Ken Miller says gross receipts were up by 7.3 percent, or $58 million, compared to November 2012.

“The Oklahoma economy continues to expand heading into the Christmas shopping season,” Miller said in a statement and on a conference call Wednesday morning. “Relatively steady growth in gross collections has become the norm over the past few years, so much so that it has become somewhat expected. But that doesn’t necessarily translate to the General Revenue Fund. So we have to be cautious going forward as we approach this next budget cycle.”

Miller also said sales tax collections in November rose 2.6 percent compared to last year. But that doesn't include Black Friday shopping receipts, since the Thanksgiving holiday fell on the final two weekdays of the month.

That long weekend also means $6 million dollars of personal income tax withholding payments weren't deposited until Monday, and won't count toward November collections.


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