WASHINGTON – Texas’ real gross domestic product (GDP) increased 3.5 percent at an annual rate in third quarter 2021, according to the Bureau of Economic Analysis.
The increase reflects the continued economic recovery, reopening of establishments, and government response related to the COVID-19 pandemic.
In the third quarter, government pandemic assistance payments to households decreased as economic impact payments ceased.
Professional, scientific, and technical services; finance and insurance; and administrative and support and waste management and remediation services were the leading contributors to the increase in GDP.
Nationally, real GDP increased 2.3 percent at an annual rate. All but 11 states saw increases in GDP in 3Q2021.
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Source: U.S. Bureau of Economic Analysis