Texas Voters are upbeat about the Economy


Despite national reports predicting doom and gloom, more than three-quarters of Texans in a new poll say they're the same or better financially than last year.

Rice economics Professor John Diamond says the voters aren't wrong to be upbeat.

"Wage growth, job creation have all been good; we see the Fed raising rates which is a sign the Fed thinks the economy will continue to expand."

Professor Diamond says even if we do wind up with a bear market, Texas will do better than the rest of the nation.

"There's a lot of reasons we could have a slow down; I don't expect one to happen in the next year, though."

Professor Diamond says as oil goes, so goes Texas and the energy industry is strong. He says even if we wind up in a bear market, Texas will do better than most states.

"Texas goes as oil goes, to some extent, so we would feel the pain but maybe not as much as everywhere else."

Professor Diamond says with low unemployment and wage growth Texans aren't wrong to be happy with the economy's direction.


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