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Texas Keeps 9 Percent Share of U.S. Economy, GDP Growth Ranked Sixth in Country

Monday, September 17, 2018

Mining, quarrying, and oil and gas extraction is a significant factor in the 2.9 percent growth of Texas’ gross domestic product growth this year, according to the U.S. Bureau of Economic Analysis. 

report on the first quarter of 2018 ranks Texas as having the sixth most substantial growth in GDP, behind Washington, Utah, South Dakota, Colorado, and Wyoming.

Texas has the second-largest share of the entire U.S. economy, following California. Texas began 2017 with 8.7 percent of the country’s overall economy, rising to 8.9 percent during the first quarter of 2018.

Texas has seen gains in professional, scientific, and technical services, transportation and warehousing, real estate, and both durable and nondurable goods manufacturing.

Industries seeing a lower GDP in Texas are agriculture, forestry, fishing, and hunting, as well as utilities.

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Naturally Beautiful Texas Landscapes

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Take a Spring drive in Cuero, Yorktown, Yoakum and all the little towns in between and experience why the Texas Legislature passed HR 769 on May 4, 1999 designating DeWitt County as the Wildflower Capital of Texas. The area becomes “an ocean of color” as the wildflowers begin to bloom and visitors come far and wide for this naturally beautiful Texas landscape.