Register | Forgot Your Password? | Close

PHOENIX -- State revenues were up by more than 17 percent last month compared to a year earlier, but state officials said it's too soon to say whether that's a one-time boost or a larger trend.

The Legislature's budget staff said general fund revenues rose to $340 million last month. But they warn the increase overstates real economic growth because February revenues are affected by the processing of income tax returns and can be misleading.

The Joint Legislative Budget Committee report released Wednesday shows year-to-date revenue is running 4.4 percent higher than last year and above the state forecast.

A better measure is sales taxes.

Those showed a strong 7.4 percent gain in February compared to a year earlier, a sign consumers are spending more as the economy improves.

Associated Press,

share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus

World Class Arizona

  • Dignity Health

    World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.

Voice For A Better Arizona

  • Family in Focus

    KTAR spends the week taking a look at the issues a modern Arizona family faces.