The setbacks continue:

As is the general case, this indicator rose with the oil capex boom then peaked with the collapse in oil capex, and remains in negative territory:

Same here. Peaked when the oil capex boom ended and the 3 month average is still in negative territory:

A bit better than expected for the month, but the year over year rate declined:



This NY state revenue report is few weeks old:


  • State tax revenue growth slowed significantly in the second half of 2015 and, according to preliminary data, early in 2016.
  • Yearover-year growth was 1.9 percent in the fourth quarter of 2015.
  • Personal income tax revenue growth slowed to 5.1 percent on a year-over-year basis.
  • Growth was weak in sales tax collections, at 2.1 percent, and motor fuels tax at 3.5 percent.
  • Corporate income taxes declined by 9.2 percent.
  • Preliminary figures for the first quarter of 2016 indicate further weakening in state tax collections, at 1.9 percent.
  • Personal income tax growth slowed to 2.3 percent.
  • Preliminary data for April 2016 indicate large declines in personal income tax collections, likely caused by the volatility in the stock market.
  • States project weak growth in tax collections in 2017.
  • The median forecast of income tax and sales tax growth is at 4.0 and 3.8 percent, respectively.
  • Hamptons real estate sales slump 21 percent