State posts first revenue gain in 15 months

ATLANTA - The state posted its first monthly revenue increase in more than a year Wednesday, but the governor&#39;s chief economic adviser called it a fluke of timing and methodology and said it does not indicate recovery is underway. <br> <br> The state reported a 2.1 percent revenue increase for September compared to September a year ago. <br> <br> Henry Thomassen said it has nothing to do with recovery or turning around the corner. <br> <br> It is the state&#39;s first increase in 15 months and comes just weeks before Democratic Governor Barnes faces Republican challenger Sonny Perdue in the November 5 election. Perdue has challenged Barnes&#39; handling of the state economy. <br> <br> Thomassen said the increase is artificially high because it compares this September&#39;s numbers with the low numbers the state posted a year ago in the aftermath of the terrorist attacks in New York and Washington. <br> <br> Too, he said new processing methods in the state Revenue Department skew the numbers because returns are being posted faster. <br> <br> Thomassen said he still expects to see recovery after the first of the year but is uncertain if it will produce the five percent growth needed to finance the budget. Further spending curbs could be needed, he suggested, although the state also has over one billion dollars in reserve.