Gov. Abbott celebrates Texas' economy expansion growth
New data released by the Bureau of Economic Analysis shows "the Texas economy expanded faster than the nation as a whole for the fourth quarter in a row," Gov. Greg Abbott's office announced in a news release Thursday.
AUSTIN (KXAN) -- New data released by the Bureau of Economic Analysis shows "the Texas economy expanded faster than the nation as a whole for the fourth quarter in a row," Gov. Greg Abbott's office announced in a news release Thursday.
According to the analysis, the second quarter GDP, which is the value of all goods and services produced in the state, grew at an annual rate of 4.9%. That is "well ahead" of the United States, which grew at 2.1%, the release said.
“Opportunity knows no bounds in Texas thanks to the hardworking men and women of this great state,” Abbott said in the release. “Texas’ continuing economic expansion, well ahead of the United States as a whole for the fourth quarter in a row, is further proof that when given the freedom to aspire, businesses invest and people prosper. Together, we continue to build a bigger, bolder Texas of tomorrow.”
According to Abbott's office, he also celebrated the state as it was recognized for the Top Business Climate, along with other awards announced in June and September. Furthermore, Texas was named the "Best State for Business for a record-shattering 19th year in a row," the release said.