November revenue higher than forecast

(December 3, 2003) — (Little Rock-AP) -- The state finance office reports greater than expected sales and income tax collections helped lift state revenues above projections for November. Solid increases in those sectors, most watched by economists, helped overcome slippage in recent months that suggested the state's economy was not keeping pace with the national recovery. The director of the state Department of Finance and Administration said that the state is back on forecast even though the economy didn't make a huge leap during November. He said much of the slippage was just timing and that the rosy outlook in the national economy is filtering down to Arkansas. The state collected 318-point-six (m) million gross general revenues last month. That's 26 (m) million more than November last year.