Tracking the Texas Economy

For more detailed statistics on the Texas economy, check the Comptroller’s Web site at www.TexasAhead.org. March 2011

Key Texas Economic Indicators

Texas total nonfarm employment increased by 20,000 jobs from November to December. Between December 2009 and December 2010, Texas
gained 230,800 jobs. Over the past year, Texas added jobs in most sectors, including construction, manufacturing, mining and logging, leisure and
hospitality, financial activities, professional and business services, educational and health services, and government.

Consumer Price Index Consumer Confidence Index

The Texas CPI Index Change from previous year: Texas 1.2% U.S. 1.5% Texas’ index has
Index Change from previous year: WSC Region*14.6% U.S. 51.7%
remains well remained
below the U.S. 225 higher than the 100 WSC* U.S. 84.9
average and has 220.2 nation’s over
increased at the past year.
almost the same 70.4
rate as the nation’s 199.3
Texas U.S.
over the last year. 175 25
1/10 1982-84 average = 100 1/11 2/10 1985 = 100 2/11
*Includes Texas, Arkansas, Louisiana & Oklahoma (per source’s data groups)

Unemployment Rate Texas Nonfarm Employment

Texas unemployment
Percent Change from previous year: Texas 0.1 U.S. -0.8 Texas employment In millions Change from previous year: 2.5%
is lower than the increased by 2.5
nation’s. 11 percent over the 11.0
8.9% past year.
10.49
8.3%
Texas U.S.
6 9.5
2/10 2/11 1/10 1/11
Texas Sales Tax Collections, Retail Establishments Change in Nonfarm Employment
Sales tax collections In millions Change from previous year: 5.2% Texas experienced Five Most Populous States
increased by 5.2 an increase of
percent over the $1,200 1.7 percent in California 0.1%
last year. nonfarm Texas 1.7%
$846.5 employment New York 0.4% 11/09
over the past year. Florida 0.5% 11/10
0 Illinois 0.6%
0 5 10 15 20
2/10 2/11 Millions of Jobs
Texas Housing Permits Existing Single-family Home Sales in Texas
Texas’ number of Units Change from previous year: Single -13.7% Multi -13.9 Home sales Units Change from previous year: 2.0%
single-family increased by
permits decreased 10,000 Single-family Multi-family 2 percent over 30,000
over the past year the last year.
and multi-family 4,218
permits increased 10,628
over the past year. 939
0 0
1/10 1/11 1/10 1/11
Industrial Production Index Leading Economic Indicators Index
Texas’ industrial Index Change from previous year: Texas 4.4% U.S. 5.1% Texas’ index Index Change from previous year: Texas 2.9% U.S. 4.7%
increased by 2.9
production index 120 percent over the 115 112.2
increased by 4.4 116.5
percent year over past year.
year. 108.6
Texas U.S. 95.1 Texas U.S.
80 100
1/10 2002= 100 1/11 12/09 2004 = 100 12/10
(‡ Double axis graph - see Notes on page 2.)

Texas Non-Residential Building Construction Contracts Mortgage Foreclosures

Non-residential Value in billions Change from previous year: -38.8% Texas’ number In thousands Change from previous year: Texas 21.9% U.S. -28.5%
building of mortgage
3 foreclosures 20 400
construction
Texas scale

U.S. scale

decreased by 38 increased from 14.8

percent over the January 2010 to
past year. January 2011.
$.834 Texas U.S. 261.3 200
0 7
1/10 1/11 1/10 (‡ Double axis graph - see Notes on page 2.) 1/11

Susan Combs Texas Comptroller of Public Accounts

Tracking the Texas Economy, continued
Texas Production and Consumption Indicators
Crude Oil Natural Gas Active Oil & Gas Median Sale Price, Cigarettes
Production Production Drilling Rigs Motor Fuels Taxed Existing Single-family Home Auto Sales Taxed
Value Value Units Gasoline Diesel Dollars Net Value Packages of 20
Date (Millions) (Millions) (Millions of Gallons) (Millions) (Millions)
2008 $30,409.17 $34,415.89 892 11,709.7 3,854.0 $145,800 $44,442.4 1,077.0
2009 18,455.53 12,167.80 431 11,916.3 3,475.8 143,600 34,792.6 961.6

Nov-09 1,975.0 998.9 433 991.0 288.4 142,600 2,536.5 78.5

Dec-09 1,910.0 1,146.5 470 963.3 267.4 144,600 2,813.6 76.6
Jan-10 2,027.3 1,410.3 519 992.8 287.6 136,900 2,815.3 69.5
Feb-10 1,820.5 1,228.5 549 945.5 289.6 141,100 2,969.2 72.4
Mar-10 2,209.9 1,244.6 593 913.6 273.8 144,000 3,356.2 87.2
Apr-10 2,252.9 1,084.8 633 1,032.9 327.8 146,700 3,011.3 81.8
May-10 2,011.1 1,158.7 647 1,002.8 315.8 148,100 2,852.6 75.9
Jun-10 1,916.3 1,156.4 663 1,060.4 313.5 152,300 3,490.5 81.0
Jul-10 2,071.2 1,274.7 676 1,028.3 319.0 154,500 3,460.0 81.2
Aug-10 2,154.6 1,351.6 714 1,034.2 311.4 153,100 3,587.7 81.4
Sept-10 2,083.6 1,179.65 721 1,053.6 310.2 146,800 3,432.6 87.6
Oct-10 2,366.9 1,293.82 717 1,001.6 318.5 144,800 3,325.9 82.4
Nov-10 2,393.7 1,237.18 734 1,031.7 322.2 146,400 3,231.1 79.5
Dec-10 2,642.8 1,470.86 746 1,044.4 308.8 150,800 3,265.1 71.4
Jan-11 2,529.8 736 139,100 66.4
Feb-11 73.8

Notes: Sources:
Crude oil and natural gas figures are net taxable val- Key Texas Economic Indicators: Industrial Production Index: Federal Reserve Bank of Dallas
ues. Gasoline gallons include gasohol. Auto sale val- Consumer Price Index: U.S. Bureau of Labor Statistics Contract Value, Non-Residential Building Construction: McGraw-Hill
ues are calculated from motor vehicle taxes collected Consumer Confidence Index: The Conference Board Mortgage Foreclosures: RealtyTrac
on new and used vehicle sales. All figures are not Nonfarm Employment, Unemployment Rate: Texas Workforce Commission,
seasonally adjusted, except for industrial production, U.S. Bureau of Labor Statistics Texas Production and Consumption Indicators:
leading indicators and employment/unemployment. Leading Economic Indicators Index: Texas Comptroller of Public Accounts, Crude Oil, Natural Gas, Motor Fuels, Auto Sales, Cigarettes:
Figures are based on the most recent available data. The Conference Board Texas Comptroller of Public Accounts
Annual figures are for calendar years. [‡ Double axis State Sales Tax Collections, Retail Establishments: Texas Comptroller of Public Active Oil & Gas Drilling Rigs: Baker-Hughes Incorporated
graphs: Graphs with two vertical axes show values for Accounts Median Sale Price, Existing Single-family Home: The Real Estate Center at
Texas on the left and values for the U.S. on the right. Housing Permits, Existing Single-family Home Sales: The Real Estate Center at Texas A&M University
This method shows trends more clearly over the last Texas A&M University
year when data values are substantially different at
state and national levels.]

A Review of the Texas Economy from the Office of Susan Combs, Texas Comptroller of Public Accounts • JAN. 2011-FEB. 2011
The dynamic Texas economy is ever-changing as it responds to new challenges
and opportunities. Go to our website at www.TexasAhead.org to find more
detailed statistics on the Texas economy in addition to timely updates.
DECEMBER REVENUE (IN MILLIONS): SALES TAX: $1,813.6 OIL PRODUCTION: $105.2 NATURAL GAS: $93.3 MOTOR FUELS: $265.3 MOTOR VEHICLE SALES: $224.1 TOBACCO: $117.5

THIS IS THE
LAST PRINTED ISSUE
OF FISCAL NOTES.
Subscribe online at
www.fiscalnotes.com.

Snapshots of the state’s key economic indicators are published in every issue
•
SEE PAGE 2 FOR DETAILS.
A Look at the Basics SEE PAGE 8

RainyFundDay101
of the Comptroller’s Fiscal Notes newsletter, which also offers an in-depth look
at topics and issues affecting the Texas economy.
To get your free subscription to Fiscal Notes, go to www.FiscalNotes.com.

Sign up to receive e-mail updates on Tracking the Texas Economy straight to your
INSIDE STORIES
inbox at www.window.state.tx.us/subscribe.
A New Plan for Space 3
Social Media and Business 6
Help Students Lock in Success 10

Texas Comptroller of Public Accounts

Publication 96-1315, Printed March 2011

Susan Combs Texas Comptroller of Public Accounts