Texas economy among the country’s elite

The economy is surging in Texas, based on new data from the Bureau of Economic Analysis.With the national economy still struggling to recover from the?recent recession, there are certain parts of the country that are performing quite well from a standpoint of gross domestic product. Conditions are particularly robust in the state of Texas, newly released statistics reveal.Based on?data provided by the Bureau of Economic Analysis, 24/7 Wall St. reports that the Lone Star State has the second-strongest economy?in the country, with GDP growth at nearly 5 percent. In addition, employment has increased 2 percent during the past year and the population level has risen 1.6 percent during that?time.Financial experts tell 24/7 Wall St. that the substantial gains in the number of people living in Texas, as well as improved energy production, help?explain why the state's financial system has thrived.Housing is also linked with improved economic activity and this has been demonstrated in the Houston Real Estate scene. For nearly two years, there have been higher home sales on a month-over-month basis in Texas' largest city, according to numbers from the Houston Association of Realtors.”The Houston housing market shows absolutely no sign of letting up,” said Danny Frank, chairman of the HAR.
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