BIRMINGHAM, AL-BBVA Compass’ Chief Economist Nathaniel Karp saysTexas is well positioned for growth in 2011.
“We maintain that Texas has the most favorable prospects forgrowth in the BBVA Compass Sunbelt Region,” Karp wrote in theglobal bank’s US Regional Outlook Report, which covers Alabama,Arizona, California, Colorado, Florida, New Mexico and Texas.“Although most states have experienced a growth deceleration in thesecond half of 2010, Texas’ growth has accelerated and remainssolidly positive. Clearly, the Lone Star State leads therecovery.”
In fact, the BBVA Compass State Monthly Activity Index revealsthat the Lone Star State continues to expand faster than the USaverage. As a result, the bank expects Texas’ GDP to grow by 3% in2010 and 2.8% in 2011 – well above the US average.
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