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Don't get too excited about revenue numbers

One month of slightly better-than-expected revenue collections does not an economic recovery make. And the new Business Conditions Index of the mid-America region released Tuesday warns that the economic recovery is subdued and fragile. Still, it was a relief that the state collected $6.9 million more in taxes than it estimated for August. July revenue was about $5 million below estimates, which means the state revenue is right on track so far this fiscal year — though delays in paying income-tax refunds in order to help cover last fiscal year's shortfall mean that the state's revenue this year is down by $29.3 million.