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[LEFT]Fueled in part by rising but stable oil prices, Texas continues to lead the country's recovery, albeit at a relatively slow pace, according to a
fourth-quarter regional economic forecast.
A report issued Monday by economists with BBVA Compass bank said that besides rising energy demand, Texas' relatively stable housing market, continued private job creation, limited fiscal challenges and strong exports – notably petroleum and coal products – will sustain the state's recovery into 2011.
“Although most states have experienced a growth deceleration in the second half of 2010, Texas’ growth has accelerated and remains solidly positive,” the report said.
The report predicts that Texas' gross domestic product will grow 3 percent this year and 2.8 percent in 2011, with both rates above the projected U.S. average of 2.7 percent in 2010 and 2.3 percent next year.
Location: I live in the Seattle neighborhood of Belltown. I live in a nice building called Mosler Lofts.
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Texas has atleast 4 great cities and lots of warm weather. I can't think of a reason why Texas would not be able to do good. It is arguably the best state in the country.
Is it really recovering or is it just that Texas wasn't hit as hard as other places? I went around the country earlier this year and Texas looked like it was still 2005 as opposed to place like California, Nevada, Florida, Louisiana, Illinois, Michigan, Ohio, where it was rather obvious that times were rough compared to the recent past.
Is it really recovering or is it just that Texas wasn't hit as hard as other places? I went around the country earlier this year and Texas looked like it was still 2005 as opposed to place like California, Nevada, Florida, Louisiana, Illinois, Michigan, Ohio, where it was rather obvious that times were rough compared to the recent past.
I agree that in the Texas metros, it does not seem as bad as other places, but I wouldn't necessarily say it's like 2005. There are still plenty of problems here as well.
Is it really recovering or is it just that Texas wasn't hit as hard as other places? I went around the country earlier this year and Texas looked like it was still 2005 as opposed to place like California, Nevada, Florida, Louisiana, Illinois, Michigan, Ohio, where it was rather obvious that times were rough compared to the recent past.
Texas had a tough 2009 in the first semester, but since September 2009 the recovery is strong.In 2010 (without counting December) Texas created 192,000 jobs, or 18% of jobs created in the country in 2010 (And Texas = 12% of the US population)
It is 3rd in the nation for welfare caseloads followed only by CA and NY. I wish that statistic were better.
Considering that those states are the top 3 in population and also get quite a few foreign born folks, that doesn't surprise me.
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