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Fiscal Notes

 

Fiscal Notes

A Review of the Texas Economy from the Office of Susan Combs, Texas Comptroller of Public Accounts · Dec 2011

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Texas’ Trillion-Dollar Economy among Nation’s Fastest-Growing

 

According to a recent analysis of federal data by the investor news site 24/7 Wall Street, Texas ranked among the nation’s 10 fastest-growing state economies between 2000 and 2010, finishing with a gross domestic product (GDP) of $1.1 trillion. Texas was the only one of the 10 largest states to register in the top 10 for GDP growth.

The site noted that growth figures tend to be more dramatic for small states, where “[a] very modest growth in absolute GDP can translate into high double-digit growth… The only large state economy that was marked by that level of growth was Texas, the second-largest state by GDP.”

The 10 Fastest-Growing State Economies
RankStatePercent Growth in GDP,
2000-2010
1Wyoming98.5%
2North Dakota76.1%
3Alaska66.6%
4South Dakota57.0%
5Utah52.1%
6TEXAS52.1%
7Nevada51.4%
8Montana48.9%
9Oklahoma48.4%
10Louisiana48.4%
The 10 Slowest-Growing State Economies
RankStatePercent Growth in GDP,
2000-2010
10New Jersey27.2%
9Indiana26.2%
8Wisconsin25.9%
7New Hampshire25.4%
6Illinois25.2%
5Georgia24.4%
4Massachusetts24.4%
3Missouri23.0%
2Ohio14.5%
1Michigan2.3

Source: 24/7 Wall Street

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