ATLANTA (AP) — A new state revenue analysis suggests a rebounding Georgia economy where consumers still spend conservatively.
The Georgia Department of Revenue reports that the state's income for July was 7.4 percent more than it was during the same month a year ago. Notable jumps in corporate and personal income tax revenues drove the overall increase. But sales and use taxes showed more modest increases from 2011 levels, while gas taxes and revenues from vehicle titles and fees were down. Alcohol sales, meanwhile, appear to be increasing.
The report covers the first month of the fiscal year. In July, before any revenue measures were final, Gov. Nathan Deal ordered all state agencies to propose ways to reduce general fund spending by 3 percent this year and again during the 2013-2014 budget year.