Despite the housing recovery, it was the booming oil and gas industry that drove the economies of the fastest-growing states, including Texas, last year.
Texas’ real gross domestic product increased 4.8 percent in 2012 state ranked No. 2 nationally.
North Dakota was No. 1 with a 13.4 percent increase in its real GDP for 2012 — also led largely by energy exploration and production.
Regionally, the Southwest, which includes Texas, grew the fastest
U.S. real GDP grew by only 2.5 percent last year – great work President Obama.
The texas GDP surge was led by the Eagle Ford shale field in South Texas where Oil production rose to a record in March, up more than 77% from a year ago.