DALLAS - Texas sales tax revenues rose 5.2% year-over-year to reach $2.6 billion in May, the highest total since November, state comptroller Glenn Hegar reported.
The 62nd consecutive year-over-year monthly increase was the highest in percentage terms in three months and came despite a continuing slump in oil prices.
"Sales tax revenue growth was relatively strong, spurred by consumer spending at retail stores and restaurants," Hegar said. "Remittances from the construction, wholesale trade and services sectors were also up significantly. Collections from the oil and gas mining sector declined, as was expected, due to the slowdown in drilling."
For the fiscal year that began Sept. 1, sales tax revenues are $21.63 billion, about 7.5% above the total for the same nine months in fiscal year 2014.
