On Wednesday, February 18. Amy Jordan from the Dallas Federal Reserve spoke to members the Kennedale Chamber and their guests at the monthly Chamber luncheon. She addressed the positive Texas economy and the 2015 economic outlook. {{more}}Jordan provided information that showed that Texas growth outpaced the U.S., growing at a 3.4% rate compared to U.S. at 2.3% in 2014.Factors for Texas that has help the strong growth include a larger share of fast-growing industries, strong fundamental industries and a broad based economy.
Expectations are for continued growth this year in Texas. For 2015 Texas job growth is expected to be 1.5 to 2% and continues to outpace the U.S.. Texas also is a top relocation and migration spot.
Other factors in Texas positive economic outlook
- Texas is the #1 producer of oil and gas in nation with 25% of U.S. refinery capacity and 60% of U.S. petrochemical production and high energy prices benefit Texas.
- Texas produces 10% of U.S. goods
- The housing sector has been slow to recover but Texas avoided the big bubble crash that swamped other parts of the country. And, Texas is currently experiencing strong growth in the housing area.
The Kennedale Chamber of Commerce holds monthly membership luncheons where the public is invited. For more information on future luncheons and other Chamber activities see KennedaleChamber of Commerce
.
