Comptroller Glenn Hegar said state sales tax revenue totaled $3.81 billion in October, down 0.3 percent from October 2022. “For the first time in 31 months following the end of pandemic restrictions, monthly state sales tax collections failed to grow on an annual basis,” Hegar said. “October sales tax collections are in line with our recent Certification Revenue Estimate, which predicted slower economic growth in the months ahead… which could indicate a slowing economy.”

“Receipts from the larger business spending-driven sectors – manufacturing and wholesale trade – declined significantly from a year ago, and receipts from the construction sector barely surpassed the previous year. Receipts from the oil and gas mining sector continued to exceed those of the previous year.”

Total sales tax revenue for the three months ending in October 2023 was up 2.7 percent compared with the same period a year ago.