Texas economy grew at 3.9 percent to lead nation
When it comes to economics, Texas is back in a familiar spot--on top. The latest report from the Bureau of Economic Analysis (BEA) ranks the Lone Star State number one in the nation for first quarter economic growth, at a rate of 3.9 percent. The first quarter of 2017 was a fairly rosy picture for the country overall, as 43 states plus D.C. saw economic growth. Still, Texas far outpaced the others. West Virginia was second at 3.0 percent and New Mexico third at 2.8 percent. Nebraska was dead last with a 4.0 percent decline in economic growth.The blue state model of the left continues to lag behind the more dynamic economy as shown by the Texas model. All those solar panels in California have not grown their economy and in fact, they are a drag because of high electricity rates and the inefficiencies of solar energy because of an inability to modulate it to meet demand fluctuations.
Two sectors primarily drove the numbers in Texas. "The mining industry was the largest contributor to the state's economic growth, but in addition the manufacturing industries--the tech manufacturers--also contributed significantly to the first quarter growth in the state," says Clifford Woodruff, economist with the BEA.
While Texas thrives, its longtime rival California stagnates. California's economic growth rate was just 0.1 percent in the first quarter, 42nd in the nation.