Fall 2007 Economic Forecast
Calendar Years 1990 Through 2035
| Year |
|---|
| Gross State Product (Billion CY2000 Dollars) |
| Annual Percent Change |
| Gross State Product (Billion Current Dollars) |
| Annual Percent Change |
| Personal Income (Billion Current Dollars) |
| Annual Percent Change |
| Nonfarm Employment (Thousands) |
| Annual Percent Change |
| Resident Population (Thousands) |
| Annual Percent Change |
| Unemployment Rate (%) |
| Taxable Oil Price (Dollars per Barrel) |
| Taxable Natural Gas Price (Dollars per Mcf) |
| Gross U.S. Product (Billion CY2000 Dollars) |
| Annual Percent Change |
| Consumer Price Index (1982-84=100) |
| Annual Percent Change |
| Prime Interest Rate (%) |
| Year | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 | 2034 | 2035 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross State Product (Billion CY2000 Dollars) |
$462.0 | $470.3 | $491.4 | $512.5 | $537.4 | $555.2 | $582.6 | $627.5 | $666.6 | $699.1 | $727.2 | $745.3 | $760.6 | $771.0 | $808.1 | $831.8 | $867.9 | $896.5 | $923.8 | $951.3 | $983.9 | $1,015.8 | $1,047.5 | $1,078.1 | $1,107.9 | $1,136.9 | $1,165.8 | $1,193.8 | $1,223.3 | $1,253.7 | $1,286.4 | $1,319.1 | $1,354.7 | $1,392.2 | $1,430.6 | $1,470.3 | $1,511.2 | $1,552.6 | $1,595.4 | $1,639.6 | $1,685.2 | $1,733.3 | $1,782.8 | $1,834.9 | $1,890.0 | $1,947.5 |
| Annual Percent Change |
3.5% | 1.8% | 4.5% | 4.3% | 4.9% | 3.3% | 4.9% | 7.7% | 6.2% | 4.9% | 3.3% | 2.5% | 2.0% | 1.4% | 4.8% | 2.9% | 4.3% | 3.3% | 3.0% | 3.0% | 3.4% | 3.2% | 3.1% | 2.9% | 2.8% | 2.6% | 2.5% | 2.4% | 2.5% | 2.5% | 2.6% | 2.5% | 2.7% | 2.8% | 2.8% | 2.8% | 2.8% | 2.7% | 2.8% | 2.8% | 2.8% | 2.9% | 2.9% | 2.9% | 3.0% | 3.0% |
| Gross State Product (Billion Current Dollars) |
$382.0 | $396.8 | $421.4 | $450.9 | $479.4 | $505.4 | $546.9 | $599.5 | $629.2 | $669.0 | $727.2 | $762.2 | $783.5 | $828.8 | $904.4 | $989.3 | $1,066.7 | $1,134.7 | $1,197.7 | $1,260.8 | $1,329.2 | $1,399.3 | $1,471.1 | $1,542.6 | $1,615.5 | $1,690.0 | $1,766.4 | $1,843.0 | $1,924.1 | $2,008.1 | $2,099.7 | $2,194.6 | $2,296.3 | $2,404.2 | $2,517.2 | $2,636.5 | $2,761.9 | $2,891.1 | $3,025.8 | $3,167.0 | $3,314.9 | $3,471.1 | $3,633.8 | $3,804.6 | $3,986.4 | $4,178.5 |
| Annual Percent Change |
8.8% | 3.9% | 6.2% | 7.0% | 6.3% | 5.4% | 8.2% | 9.6% | 5.0% | 6.3% | 8.7% | 4.8% | 2.8% | 5.8% | 9.1% | 9.4% | 7.8% | 6.4% | 5.6% | 5.3% | 5.4% | 5.3% | 5.1% | 4.9% | 4.7% | 4.6% | 4.5% | 4.3% | 4.4% | 4.4% | 4.6% | 4.5% | 4.6% | 4.7% | 4.7% | 4.7% | 4.8% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% | 4.8% | 4.8% |
| Personal Income (Billion Current Dollars) |
$297.1 | $311.9 | $335.9 | $354.2 | $374.8 | $398.2 | $427.8 | $466.2 | $507.7 | $539.7 | $593.1 | $619.6 | $626.6 | $649.4 | $695.5 | $760.3 | $824.1 | $889.6 | $940.8 | $994.7 | $1,052.8 | $1,111.1 | $1,171.5 | $1,230.7 | $1,291.7 | $1,356.4 | $1,424.1 | $1,493.9 | $1,568.2 | $1,644.2 | $1,724.7 | $1,806.5 | $1,892.0 | $1,980.9 | $2,072.6 | $2,169.0 | $2,270.4 | $2,374.5 | $2,481.3 | $2,591.9 | $2,708.1 | $2,826.6 | $2,947.9 | $3,073.3 | $3,205.7 | $3,345.6 |
| Annual Percent Change |
8.5% | 5.0% | 7.7% | 5.4% | 5.8% | 6.2% | 7.4% | 9.0% | 8.9% | 6.3% | 9.9% | 4.5% | 1.1% | 3.6% | 7.1% | 9.3% | 8.4% | 7.9% | 5.8% | 5.7% | 5.8% | 5.5% | 5.4% | 5.1% | 5.0% | 5.0% | 5.0% | 4.9% | 5.0% | 4.8% | 4.9% | 4.7% | 4.7% | 4.7% | 4.6% | 4.7% | 4.7% | 4.6% | 4.5% | 4.5% | 4.5% | 4.4% | 4.3% | 4.3% | 4.3% | 4.4% |
| Nonfarm Employment (Thousands) |
$7,101.2 | $7,181.3 | $7,275.5 | $7,488.0 | $7,757.5 | $8,029.5 | $8,263.1 | $8,613.9 | $8,943.7 | $9,160.4 | $9,431.9 | $9,514.4 | $9,416.3 | $9,370.2 | $9,497.1 | $9,740.2 | $10,053.6 | $10,277.3 | $10,480.4 | $10,675.0 | $10,893.0 | $11,086.5 | $11,259.2 | $11,409.4 | $11,554.7 | $11,699.0 | $11,844.2 | $11,982.3 | $12,119.8 | $12,252.4 | $12,391.9 | $12,525.0 | $12,659.9 | $12,795.1 | $12,929.0 | $13,060.5 | $13,195.1 | $13,328.0 | $13,458.9 | $13,590.6 | $13,726.5 | $13,867.4 | $14,010.4 | $14,154.9 | $14,302.4 | $14,453.1 |
| Annual Percent Change |
3.8% | 1.1% | 1.3% | 2.9% | 3.6% | 3.5% | 2.9% | 4.2% | 3.8% | 2.4% | 3.0% | 0.9% | -1.0% | -0.5% | 1.4% | 2.6% | 3.2% | 2.2% | 2.0% | 1.9% | 2.0% | 1.8% | 1.6% | 1.3% | 1.3% | 1.2% | 1.2% | 1.2% | 1.1% | 1.1% | 1.1% | 1.1% | 1.1% | 1.1% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.1% |
| Resident Population (Thousands) |
17,111.8 | 17,450.4 | 17,815.8 | 18,214.7 | 18,613.6 | 19,005.4 | 19,393.3 | 19,796.5 | 20,210.8 | 20,606.2 | 20,991.7 | 21,377.3 | 21,762.9 | 22,139.9 | 22,516.7 | 22,987.7 | 23,517.8 | 23,868.7 | 24,253.9 | 24,629.5 | 24,995.8 | 25,353.0 | 25,704.3 | 26,047.6 | 26,388.7 | 26,729.9 | 27,070.2 | 27,407.1 | 27,737.3 | 28,055.9 | 28,359.7 | 28,650.6 | 28,932.0 | 29,203.8 | 29,467.5 | 29,724.6 | 29,976.1 | 30,221.7 | 30,460.3 | 30,693.5 | 30,922.3 | 31,145.7 | 31,362.7 | 31,576.0 | 31,790.7 | 32,011.2 |
| Annual Percent Change |
1.5% | 2.0% | 2.1% | 2.2% | 2.2% | 2.1% | 2.0% | 2.1% | 2.1% | 2.0% | 1.9% | 1.8% | 1.8% | 1.7% | 1.7% | 2.1% | 2.3% | 1.5% | 1.6% | 1.5% | 1.5% | 1.4% | 1.4% | 1.3% | 1.3% | 1.3% | 1.3% | 1.2% | 1.2% | 1.1% | 1.1% | 1.0% | 1.0% | 0.9% | 0.9% | 0.9% | 0.8% | 0.8% | 0.8% | 0.8% | 0.7% | 0.7% | 0.7% | 0.7% | 0.7% | 0.7% |
| Unemployment Rate (%) |
6.4% | 7.0% | 7.6% | 7.2% | 6.6% | 6.1% | 5.8% | 5.4% | 4.8% | 4.6% | 4.2% | 4.8% | 6.3% | 6.7% | 6.0% | 5.3% | 4.9% | 4.3% | 4.8% | 4.9% | 4.9% | 4.8% | 4.8% | 4.9% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | 4.9% | 4.9% | 4.9% |
| Taxable Oil Price (dollars per Barrel) |
$22.10 | $19.13 | $18.45 | $16.31 | $15.10 | $16.47 | $20.38 | $18.80 | $12.31 | $17.40 | $28.79 | $23.70 | $24.39 | $28.94 | $36.44 | $50.37 | $61.16 | $58.62 | $57.19 | $58.31 | $60.21 | $61.58 | $59.88 | $58.19 | $56.69 | $56.22 | $56.06 | $56.68 | $57.49 | $58.59 | $59.62 | $60.38 | $61.15 | $61.91 | $62.68 | $63.45 | $63.88 | $64.32 | $64.76 | $65.20 | $65.64 | $66.14 | $66.72 | $67.38 | $68.05 | $68.72 |
| Taxable Natural Gas Price (dollars per Mcf) |
$1.47 | $1.37 | $1.54 | $1.77 | $1.59 | $1.39 | $1.95 | $2.11 | $1.75 | $1.97 | $3.49 | $3.53 | $2.79 | $4.49 | $4.80 | $6.41 | $5.97 | $6.02 | $6.16 | $6.09 | $6.13 | $6.20 | $6.23 | $6.22 | $6.25 | $6.48 | $6.71 | $6.99 | $7.07 | $7.28 | $7.52 | $7.68 | $7.83 | $8.00 | $8.16 | $8.33 | $8.46 | $8.59 | $8.72 | $8.85 | $8.98 | $8.75 | $8.89 | $9.04 | $9.19 | $9.34 |
| Gross U.S. Product (Billion CY2000 Dollars ) |
$7,112.5 | $7,100.5 | $7,336.6 | $7,532.7 | $7,835.5 | $8,031.7 | $8,328.9 | $8,703.5 | $9,066.9 | $9,470.4 | $9,817.0 | $9,890.7 | $10,048.9 | $10,301.1 | $10,675.7 | $11,003.5 | $11,319.4 | $11,542.2 | $11,777.8 | $12,123.0 | $12,460.3 | $12,805.0 | $13,136.1 | $13,446.8 | $13,767.1 | $14,099.6 | $14,438.9 | $14,782.7 | $15,157.9 | $15,536.7 | $15,918.8 | $16,292.4 | $16,681.4 | $17,079.1 | $17,493.4 | $17,930.3 | $18,371.6 | $18,814.3 | $19,264.6 | $19,733.3 | $20,227.8 | $20,728.7 | $21,234.3 | $21,753.8 | $22,297.9 | $22,857.6 |
| Annual Percent Change |
1.8% | -0.2% | 3.3% | 2.7% | 4.0% | 2.5% | 3.7% | 4.5% | 4.2% | 4.4% | 3.7% | 0.8% | 1.6% | 2.5% | 3.6% | 3.1% | 2.9% | 2.0% | 2.0% | 2.9% | 2.8% | 2.8% | 2.6% | 2.4% | 2.4% | 2.4% | 2.4% | 2.4% | 2.5% | 2.5% | 2.5% | 2.3% | 2.4% | 2.4% | 2.4% | 2.5% | 2.5% | 2.4% | 2.4% | 2.4% | 2.5% | 2.5% | 2.4% | 2.4% | 2.5% | 2.5% |
| Consumer Price Index (1982-84=100) |
130.7 | 136.2 | 140.3 | 144.5 | 148.2 | 152.4 | 156.9 | 160.5 | 163.0 | 166.6 | 172.2 | 177.0 | 179.9 | 184.0 | 188.9 | 195.3 | 201.6 | 207.0 | 210.8 | 214.5 | 218.6 | 222.5 | 226.5 | 230.5 | 234.9 | 239.6 | 244.2 | 249.0 | 253.7 | 258.4 | 263.4 | 268.5 | 273.6 | 278.8 | 284.1 | 289.6 | 295.3 | 301.0 | 306.8 | 312.8 | 318.9 | 325.0 | 331.3 | 337.6 | 344.1 | 350.8 |
| Annual Percent Change |
5.4% | 4.2% | 3.0% | 3.0% | 2.6% | 2.8% | 2.9% | 2.3% | 1.5% | 2.2% | 3.4% | 2.8% | 1.6% | 2.3% | 2.7% | 3.4% | 3.2% | 2.7% | 1.8% | 1.8% | 1.9% | 1.8% | 1.8% | 1.8% | 1.9% | 2.0% | 1.9% | 2.0% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% | 2.0% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% | 1.9% |
| Prime Interest Rate (%) |
10.0% | 8.5% | 6.3% | 6.0% | 7.1% | 8.8% | 8.3% | 8.4% | 8.4% | 8.0% | 9.2% | 6.9% | 4.7% | 4.1% | 4.3% | 6.2% | 8.0% | 8.1% | 7.3% | 7.6% | 7.8% | 7.8% | 7.7% | 7.7% | 7.7% | 7.7% | 7.7% | 7.7% | 7.8% | 7.8% | 7.8% | 7.8% | 7.8% | 7.8% | 7.8% | 7.8% | 7.8% | 7.8% | 7.8% | 7.7% | 7.7% | 7.7% | 7.7% | 7.7% | 7.7% | 7.7% |
Source: Susan Combs, Texas Comptroller. Fall 2007 Forecast