Revenue for state government rose in October amid what legislative budget analysts call a sluggish, slow-growth economy.

The month's revenue increased by 2.6 percent from the same month a year earlier, with the increase largely propelled by 5 percent growth of individual income taxes, the Joint Legislative Budget Committee reported in its Monthly Fiscal Highlights.

"The two best 'real-time' measures of Arizona revenues are sales tax collections and income tax withholding," the report said. "They both reflect the current sluggish, slow-growth nature of the Arizona economy."

Sales tax collections rose 3.7% and withholding increased 4.0% in the first four months of the fiscal year, the report said.

The state brought in $11.7 million more in October than called for in the 2012-13 budget. That erased a small deficit from the first three months of the fiscal year, bringing total revenues over budget to $2.3 million.

The state budget for the current fiscal year is $8.5 billion.

Read the revenue report here: View at Google Docs | Download File