Tennessee revenue collections more than budgeted

Tennessee revenue collections more than budgeted

Posted:

NASHVILLE (AP) - Tennessee's January revenue collections were $37.1 million more than budgeted.

Finance and Administration Commissioner Mark Emkes said Thursday that overall January revenues were $1.05 billion, marking the sixth straight month of growth this fiscal year. The figure reflected December consumer spending during the holiday buying season.

Emkes said indications are that the economy continues to recover slowly from the worst recession on record.

Sales tax collections were $27.6 million more than the estimate for January, reflecting a growth rate of 7.4%.

Year-to-date collections for six months were $231.3 million more than the budgeted estimate.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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