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Table 1:
Biennial Revenue Estimate 2010-2011
Table 1:
Texas Economic History and Outlook
for Fiscal Years 1999-2011
Winter 2008-09 Forecast
| Indicator | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008* | 2009* | 2010* | 2011* |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Real Gross State Product (Billions, 2000 $) |
$691.3 | $722.6 | $740.8 | $757.1 | $767.3 | $796.6 | $821.9 | $855.5 | $894.0 | $931.5 | $948.4 | $966.1 | $1,002.9 |
| Annual Percentage Change in Real Gross State Product | 5.3% | 4.5% | 2.5% | 2.2% | 1.3% | 3.8% | 3.2% | 4.1% | 4.5% | 4.2% | 1.8% | 1.9% | 3.8% |
| Gross State Product (Billions, Current $) |
$658.0 | $713.0 | $754.6 | $779.7 | $813.4 | $882.5 | $959.1 | $1,047.2 | $1,123.0 | $1,196.1 | $1,245.9 | $1,280.9 | $1,354.2 |
| Annual Percentage Change Gross State Product | 5.6% | 8.4% | 5.8% | 3.3% | 4.3% | 8.5% | 8.7% | 9.2% | 7.2% | 6.5% | 4.2% | 2.8% | 5.7% |
| Personal Income (Billions, Current $) |
$530.3 | $581.3 | $615.6 | $624.0 | $641.4 | $681.3 | $741.7 | $806.6 | $869.2 | $931.2 | $960.4 | $1,000.4 | $1,064.1 |
| Annual Percentage Change personal income in billions of current dollars | 6.5% | 9.6% | 5.9% | 1.4% | 2.8% | 6.2% | 8.9% | 8.8% | 7.8% | 7.1% | 3.1% | 4.2% | 6.4% |
| Nonfarm Employment (Thousands) |
9,111.6 | 9,365.9 | 9,532.0 | 9,426.2 | 9,375.4 | 9,450.5 | 9,667.7 | 9,984.3 | 10,293.2 | 10,538.0 | 10,537.3 | 10,637.6 | 10,889.4 |
| Annual Percentage Change in nonfarm employment | 2.8% | 2.8% | 1.8% | (1.1%) | (0.5%) | 0.8% | 2.3% | 3.3% | 3.1% | 2.4% | 0.0% | 1.0% | 2.4% |
| Resident Population (Thousands) |
20,507.1 | 20,900.4 | 21,291.0 | 21,679.0 | 22,041.9 | 22,409.5 | 22,808.1 | 23,379.5 | 23,840.7 | 24,283.6 | 24,710.4 | 25,236.9 | 25,779.3 |
| Annual Percentage Change in resident population | 2.0% | 1.9% | 1.9% | 1.8% | 1.7% | 1.7% | 1.8% | 2.5% | 2.0% | 1.9% | 1.8% | 2.1% | 2.1% |
| Unemployment Rate (%) | 4.8% | 4.4% | 4.7% | 6.1% | 6.7% | 6.3% | 5.5% | 5.1% | 4.5% | 4.4% | 6.6% | 6.7% | 6.5% |
| Oil Price (per Barrel) | $12.91 | $25.16 | $27.73 | $21.91 | $28.59 | $32.48 | $46.89 | $61.17 | $59.02 | $98.53 | $50.28 | $39.55 | $47.31 |
| Natural Gas Price (per MCF) | $1.71 | $2.63 | $4.89 | $2.53 | $4.31 | $4.83 | $5.87 | $7.50 | $6.34 | $7.67 | $5.79 | $5.06 | $5.63 |
| Indicator | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008* | 2009* | 2010* | 2011* |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Real Gross Domestic Product (Billions, 2000 $) |
$9,361.9 | $9,762.8 | $9,885.1 | $10,002.4 | $10,208.3 | $10,593.4 | $10,917.1 | $11,227.3 | $11,457.8 | $11,678.5 | $11,571.2 | $11,689.2 | $12,022.9 |
| Annual Percentage Change in Real Gross Domestic Product | 4.4% | 4.3% | 1.3% | 1.2% | 2.1% | 3.8% | 3.1% | 2.8% | 2.1% | 1.9% | (0.9%) | 1.0% | 2.9% |
| Consumer Price Index (1982-84 = 100) | 165.5 | 170.7 | 176.2 | 178.9 | 183.1 | 187.4 | 193.5 | 200.6 | 205.3 | 214.4 | 213.7 | 217.0 | 223.7 |
| Annual Percentage Change in Consumer Price Index | 1.9% | 3.2% | 3.2% | 1.5% | 2.4% | 2.3% | 3.3% | 3.7% | 2.3% | 4.4% | (0.4%) | 1.6% | 3.1% |
| Prime Interest Rate (%) | 7.9% | 9.0% | 8.0% | 4.9% | 4.2% | 4.1% | 5.7% | 7.6% | 8.2% | 6.0% | 3.7% | 3.9% | 6.0% |
* 2008 through 2010 values are estimated or projected.
SOURCES: Susan Combs, Texas Comptroller of Public Accounts; and IHS Global Insight, Inc.