Houston economy to grow bigger, slower than other Texas cities: analysis

Houston says the economy has grown more than $ 160 billion over the next five years compared with the state, but lately profits will be slower than Dallas and Austin are growing rapidly. Analysis of the Perryman Group, a Texas economic consulting firm.

The Perryman Group forecasts that the economies of the Houston-Woodland-Sugar Land region are expected to grow by 3.84{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} each over the next five years, surpassing the state and national rates. The local economy is expected to add 341,400 jobs during this period. Mining and information technology is expected to be the fastest growing sector, with growth rates of 4.88{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} and 4.63{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} respectively.

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The Dallas-Plano-Irving metropolitan area is expected to add more than $ 84 billion in economic output, slightly less than 80{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} of Houston's profits. The small economy in the Dallas region is expected to grow at a rate of 3.96{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} annually by 2023, which is the fastest of the major metro areas.

The Austin metropolitan area, including Round Rock, is expected to grow its economic output by about $ 30.7 billion, growing at 3.89{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} annually over the next five years.

The Texas economy forecasts an increase of 3.82 percent annually in total production.


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