Texas gross state product grows in 2010

by Houston Business Journal - by Lance Murray, Dallas Business Journal

Texas' gross state product has increased 2.77 percent in the last two years to about $1.11 trillion, according to a recent analysis.

The On Numbers report from writer G. Scott Thomas was compiled from U.S. Census Bureau data. It showed Texas ranking second for GSP. It is one of only three states nationwide where the GSP is more than $1 trillion. California and New York are the other two.

The GSP is the annual measure of a state's total output of goods and services and 48 of the 50 states showed increases in 2010. The percent growth was calculated using 2005 dollars.

In terms of percentage change, Texas was 17th in the nation. North Dakota led the nation in percentage change with a 7.1 percent increase in GSP.

The On Numbers report was compiled by G. Scott Thomas of American City Business Journals, the parent company of the Houston Business Journal.