Texas real GDP up in 2Q2021
WASHINGTON – Texas’ real gross domestic product (GDP) increased 6.4 percent at an annual rate in second quarter 2021, according to the Bureau of Economic Analysis.
In the second quarter, government assistance payments in the form of loans to businesses and grants to state and local governments increased, while social benefits to households, such as the direct economic impact payments, declined.
Professional, scientific, and technical services; administrative and support and waste management and remediation services; and information were the leading contributors to the increase in GDP.
In the second quarter, Texas’ GDP represented 8.6 percent of the nation’s GDP.
Nationally, real GDP increased 6.7 percent at an annual rate. All states and the District of Columbia saw increases in GDP in 2Q2021.
The increases in state GDPs across the country reflected the continued economic recovery, reopening of establishments, and government response related to the COVID-19 pandemic.
The Texas Real Estate Research Center has a wealth of economic information online for free.
Source: U.S. Bureau of Economic Analysis
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