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Thursday, July 27, 2017

Texas Booms, California Flatlines

By Rick Pearcey • July 27, 2017, 09:19 AM

Terry Jeffrey reports at CNSNews.com:

Texas, the nation's second most populous state, had the fastest growing economy in the nation in the first quarter of this year with its state GDP growing at a real annual rate of 3.9 percent, according to data released today by the Bureau of Economic Analysis [BEA].

By contrast, California, the nation's most populous state, ranked 42nd out of 50 states for first quarter economic growth, with its GDP growing at a real annual rate of just 0.1 percent.

"The Texas economy, according to BEA, was driven up by a boom in the mining sector and by a large increase in manufacturing," Jeffrey continues.

California's economy was dragged down by the arts, entertainment and recreation sector; finance and insurance; retail trade; and agriculture, forestry, fishing and hunting," according to CNSNews.

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