DALLAS-Economists with BBVA Compass and Wells Fargo agree that the U.S, along with the Texas and Dallas-Forth Worth economies, will experience stronger growth in the coming year.
Both firms expect employment to improve and consumer confidence to grow in 2014. BBVA Compass predicts GDP growth in 25 states to exceed the U.S. average of 2.3% in 2014, driven by real estate, manufacturing and energy markets, according to the Dallas Morning News.
Wells Fargo Economics expects the Texas economy to post strong gains in residential and commercial construction, due in large part to being ranked No. 1 in in-migration nationally for the second straight year.
The oil and gas industry in Texas, while slowing down somewhat, will still drive oil and gas refinery and pipeline investment. See story in the Dallas Morning News.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.