Dallas and Houston’s economic stability are projected to be somewhat of an anomaly in the U.S. over the next several years, even as much of the world’s economic growth slows, according to research firm Oxford Economics.
Its economic analysis projects that nearly two-thirds of the world’s major cities will see an economic slowdown over the next two years. Oxford Economics sees slowing gross domestic product growth in the 10 largest cities in the world.
Dallas and Houston trail only San Francisco for near-term economic success in the analysis of how America’s 10 largest cities will fare through a slowdown. The analysis projects Dallas’ GDP will grow at an average rate of 2.2% between 2020-2021, down from 3.6% from 2014-2018, according to Oxford Economics. Projecting out two more years to 2023, both the Dallas and Houston economies are forecast to grow at a 2.4% rate.