Journal Article

Texas finds cover from U.S. economic storm

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.

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Southwest Economy

Publication Date: 2008

Issue: Jan

Pages: 3-7

Order Number: 1