According to the Federal Reserve Bank of Dallas, the Texas economy is slated to grow faster than most U.S. states in 2013. Employment is projected to grow between 2 and 3 percent, and office construction is also likely to increase this year as office vacancy rates continue to decline.
A statewide increase in construction activity is also predicted, which offsets a decline in exports and energy. A decrease in international manufacturing demand and oil and gas energy will slow the state’s economic expansion, but Texas is still poised to grow a much faster rate than other U.S. states.
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