The overall figures and the percentage-point contributions are broadly similar for all regions, and for Dallas and Houston, in particular, they are virtually identical. Texas makes statewide gains of 0.2 percentage points due to competitive factors, half the 0.4 percent achieved in Dallas and Houston, implying that many of the state's competitive advantages may be concentrated in the state's two largest metro areas. It has been difficult in recent years to describe the performance of the Houston economy. It has hit remarkable highs and lows and often run counter to trends in the nation and other parts of Texas. Using real per capita income growth over 25 years as a measure of long-term development reveals that Houston averaged an economic growth rate that exceeded the nation's, was much like that of Texas and equaled that of the Dallas metropolitan area.
Job growth is the biggest determinant of income growth in all regions examined.
In Texas, the CPI is available only for the Houston and Dallas metropolitan areas. To deflate statewide Texas data, we used a deflator available for the southern United States. Marisol Solis is a student at Rice University. Oil and natural gas markets have been the center of local economic interest in recent weeks. Petrochemical markets look weak compared with their record performance in 1995 but are rebounding from a poor first quarter.