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Texas finds cover from U.S. economic storm

Author

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  • Fiona Sigalla

Abstract

The 2007 Texas expansion was persistently underrated. While a national economic slowdown attracted headlines, the state's economy quietly grew at a rate that was Texas proud. ; State job growth of 3.1 percent last year was triple the nation's 1 percent - and exceeded the state's long-run average of 2.8 percent for the third year in a row. While declines in homebuilding were sizable, overall construction remained at high levels in Texas. Oil and gas drilling returned to heights not seen since the early 1980s energy boom.

Suggested Citation

  • Fiona Sigalla, 2008. "Texas finds cover from U.S. economic storm," Southwest Economy, Federal Reserve Bank of Dallas, issue Jan, pages 3-7.
    • Handle: RePEc:fip:feddse:y:2008:i:jan:p:3-7:n:1
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