How Texas Created a Recession-Resilient Economy
30 Oct 2023
Some analysts have predicted another economic downturn practically since the nation emerged from the pandemic-driven recession of 2020. But as dire predictions surge and wane, Texas’ economic fundamentals help it face the prospect of any recession from a position of relative strength.
For the Texas Comptroller of Public Accounts, job one is closely monitoring economic information and trends. This scrutiny shapes forecasts including the Biennial Revenue Estimate that Comptroller Glenn Hegar issues before each regular legislative session.
“We anticipated slower growth in our revenue estimate, but we also know that Texas’ economy is better positioned than other state economies and the national economy to absorb slower growth rates,” says Hegar.