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Where are the nation's fastest-growing economies? Try West TexasWhere are the nation's fastest-growing economies? Try West Texashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=108762015-10-20T05:00:00Z

​​NEW YORK – Texans don't have to go far to find the fastest-growing economies in the country, reports 24/7 Wall St. They're in Midland and San Angelo.

Midland snagged the number one spot with a 2014 gross domestic product (GDP) growth of 24.1 percent. The 2014 GDP was $26.26 billion, and the largest industry was mining with a 62.6 percent share of the GDP. 

San Angelo sat at number two with 11.4 percent 2014 GDP growth, less than half of Midland's.​​ The 2014 GDP was $4.82 billion, and the largest industry was government with a 17.4 percent share of the GDP.​

Other cities in the top five were Lake Charles, La.; Greeley, Colo. and Wheeling, W.Va.-Ohio. 

Five of the top ten fastest-growing economies are in Texas, the nation's leader in crude oil reserves and production. However, dropping oil prices could change that, 24/7 Wall St. said.  

The U.S. economic output grew by 2.2 percent in 2014 to $15.77 trillion. 

To compile the list, 24/7 Wall St. reviewed the highest and lowest real GDP growth rates in 2014 among the nation's 381 MSAs from the Bureau of Economic Analysis as well as last year's unemployment rates from the Bureau of Labor Statistics. 

MSN Money​
Texas
Economy
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