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Slow Growth Expected to Continue in Texas

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    NEWSLETTERS

    TK
    flickr/vanessanunes

    The state comptroller's top revenue estimator said that while Texas is out of the Great Recession, growth will continue to be slow.

    John Heleman told the House Ways and Means Committee on Wednesday that companies will continue to add jobs. But he cautioned that Texas has still got a long way to go before returning to pre-recession levels of employment and therefore economic growth.

    He said that housing construction will remain flat because there are still more new homes than there are buyers. Consumer confidence also remains low.

    Heleman said the oil and gas industry remains the bright spot, with a record number of rigs working in the state. He also said he expects demand for natural gas to rise and the oil and gas industry to remain strong.