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January Revenue Exceeds Prior Year, Estimates (Feb 14, 2011)

OKLAHOMA CITY (AP) — State finance officials say consumer spending jumped for the seventh month in a row in January, indicating Oklahomans are shaking off the effects of a long recession.

Office of State Finance Director Preston Doerflinger said Monday that collections by the state's general revenue fund last month are more than those from January 2010 by almost $80 million. He says collections also beat official estimates by almost $24 million.

Doerflinger says increasing state revenue indicates pent-up demand and optimism by Oklahomans following a period of household belt-tightening.

Preliminary reports show collections totaled $490.3 million in January. That amount was $79.9 million or 19.5 percent above January 2010 collections and $23.9 million or 5.1 percent above the estimate for the month.

Total collections are $245.7 million above the prior year.

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