WASHINGTON – Texas’ real gross domestic product (GDP) grew 4.4 percent last year, the largest increase nationally, according to data from the U.S. Bureau of Economic Analysis.
The Lone Star State had the fourth-largest 4Q2019 real GDP increase, growing 2.9 percent. However, that was the smallest quarterly increase in 2019.
Mining was the leading contributor to the increase in real GDP in Texas last year.
According to Real Estate Center Research Economist Luis Torres, the Texas economy slowed in 4Q2019 due to the decline in oil and gas extraction and manufacturing.
The U.S.’s real GDP grew 2.3 percent in 2019.
The Real Estate Center has a wealth of economic information online for free.
Source: U.S. Bureau of Economic Analysis