AUSTIN – Gov. Greg Abbott last week announced Texas’ continuing economic momentum, as 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.
Second quarter 2023 real GDP -- the value of all goods and services produced -- grew in Texas at an annual rate of 4.9%, well ahead of the U.S. which grew at 2.1%.
“Opportunity knows no bounds in Texas thanks to the hardworking men and women of this great state,” Abbott said on Dec. 7.
“ 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,” Abbott said. “Together, we continue to build a bigger, bolder Texas of tomorrow.”
Texas was recently recognized for its Top Business Climate, the third national best business climate ranking for Texas this year, with other awards announced in June and September. Earlier this year, Texas was also named the Best State for Business for a record-shattering 19th year in a row.
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