Texas economic growth in 2008

The economic outlook in Texas in 2008, pointed out that the slowdown in economic growth, but still higher than most parts of the country do not see a better growth. Texas, with the second largest of 15 large and state-owned economy in the world's largest economy will grow about 2.2% a year after Texas workforce Commission records.

Warm weather, undervalued real estate market, national income and employment opportunities for the lack of good to continue to attract people's Lone Star状态. These new residents will need a place to live, such property shall be retained by the state, but more as the last high-water do, in 2006.

The recent downturn in the housing market and the "credit crunch" state of uncertainty reduces the trust of consumers and the U.S. can now be in a recession since the first time since 2001. Higher energy prices, especially in the vicinity of $ 100 a barrel oil prices, and now the prices of many commodities, reflecting theService. U.S. Federal Reserve Board (Fed) cut interest rates to rise more than twice the basic two-week federal funds rate 125 basis points (1.25%), loans and public consumption. U.S. Federal Reserve Open Market Committee to determine the federal funds rate (the overnight rate between banks) the costs, and then corresponds to the 18th March, MarketWatch.com reported that the Federal Reserve might again cut interest rates, this 50 base slightly (5 %) of the time. Control of this interestIs how to regulate the U.S. economy is the Fed's money supply, which in turn in the inflation and interest rate management help. The Fed's actions gave the impression that whether it is entering a recession the economy is fast, or from negative growth to drift.

Not seen since the Federal Reserve Bank senior banking official survey also showed that a quarter of the report of the rate of credit standards 17 years ago. Mortgage loans, consumer loans, commercial real estate loans, commercial loans and to see thisHigh cost of credit standards, the Fed report. As most economists know, tighter credit conditions and the general slowdown in economic growth.

In order to improve growth, Congress just an economic stimulus package worth about 160 million U.S. dollars and is expected, President Bush signed into law, though some economists doubt that there will be no effect.

However, continue to work with high population growth and low unemployment, such as the unemployment rate of 4.3% in Texas, 12 later this month will be better than the nationalEconomy. Economists expected to continue growing in 2008, according to Real Estate Research Center, Texas A & M University.