Texas Economy Expands Faster Than U.S. 4 Quarters In A Row

December 7, 2023 | Austin, Texas | Press Release

Governor Greg Abbott today celebrated 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,” said Governor Abbott. “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. Together, we continue to build a bigger, bolder Texas of tomorrow.”
Governor Abbott recently celebrated Texas being recognized for the 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.