Business

Texas Experiencing Economic Growth

The latest survey of the Texas economy by Comerica Bank shows the state continued to grow in March.

Comerica Bank’s Texas Economic Activity Index rose one point in March to a level of 97.  The latest index reading is 25 points, or 35%, above the cyclical low set in mid-2009.

In a prepared statement, Comerica chief economist Robert Dye credited the strong energy sector and improving manufacturing sector for the gains.  He said growth in energy and manufacturing is spilling over into the service sector, providing a broad basis for ongoing economic growth.

Texas job growth remains well above the national average and the state unemployment rate is well below average. Texas unemployment, at 7% in March, dropped to 6.5% in April, according to the Texas Workforce Commission.

On the down side, Dye noted that low natural gas prices are weighing on some drilling activity.

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas delegations in the U.S. House and Senate, as well as the Texas governorship, the state legislature, and county and city governments. Before taking up his current post, Andrew...

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