OKLAHOMA CITY – Oklahoma Treasurer Ken Miller is delivering more bad news about the state’s economy.
Miller reported Tuesday that overall collections to the state treasury were down last month by more than $25 million, or nearly 3 percent, compared to last year. The downward trend comes on the heels of two consecutive months in which collections had exceeded those from a year earlier.
Despite the downturn, Miller says most economic indicators continue to show the state’s economy is on the mend.
He says the average decline in overall collections has slowed and the unemployment rate is shrinking as the number of drilling rigs continues to rise.
Overall, he says increased collections from oil and natural gas production were a bright spot in the March report.