State Officials Say Arkansas on Road to Economic Upturn

JUNE 3, 2004 - Posted at 7:15 a.m. CDT

LITTLE ROCK, AR - State officials say Arkansas' economic downturn is over and the road to recovery is rosy.

Revenue collections totaled almost $4 billion through May, the state Department of Finance and Administration reported yesterday.  That's $278 million more than a year ago and more than $39 million above the state forecast.

State finance director Richard Weiss said the state should end the year with a revenue surplus as much as twice the $32 million net available at the end of May.

For May, revenue collections totaled $247 million, $69 million below last year but 15 percent above the forecast.

(Copyright 2004 by The Associated Press.  All Rights Reserved.)