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Comerica: Texas Economy Saw Broad-Based Growth In December

Comerica Bank's Texas Economic Activity Index rose 1.2 percentage points in December, to a level of just over 111.



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December marked the fourth consecutive increase for the monthly index, following a flat performance across early 2013. Robert Dye is chief economist at Comerica Bank.

“We’ve had natural gas prices supported by this very cold weather, which has increased demand nationwide. We have oil prices, crude oil prices up near $100 a barrel. We have a broadening base for the whole Texas economy. And I think those factors, plus the advantages to Texas that we all know about — lifestyle, cost of living, central location, all of that still applies — so I think this is going to be another good year for Texas.”

New hiring, sales tax revenues, and building permits also boosted Texas’ economic activity in December. On the down side, unemployment claims rose and state exports fell.

The index averaged 105 points for the whole of 2013, three points above the yearly average for 2012.

Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew Schneider is the senior reporter for politics and government at Houston Public Media, NPR's affiliate station in Houston, Texas. In this capacity, he heads the station's coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments...

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