The Texas Economic Activity Index rose 2.4 percentage points in November to a level of 109.9. Payroll job growth in Texas continued to outpace the national average. Comerica Bank chief economist Robert Dye says he expects that trend to continue in 2014.
“But I think there’s also a reasonable expectation that that growth differential between Texas and the U.S. will start to narrow over the coming year as the rest of the U.S. economy picks up steam a little bit and Texas normalizes after this very strong push from the Shale Gale that’s really revolutionized the petroleum industry and really helped spur growth in the Texas economy.”
The index tracks seven economic variables. Six of the seven gained ground in November, the lone exception being a slight dip in sales tax revenues.