By all accounts, Texas, on the cusp of the 21st century, is driven by a powerful, well-tuned economic engine. The Lone Star economy, more diverse than ever before, is generating jobs at a near-record pace.
Inflation remains tame.
Times have been rough for drought-stricken agriculture and a slumping oil patch, but most Texans are seeing better days than they have for nearly two decades. Key economic indicators are strong and vigorous. Housing starts surged a whopping 30 percent in 1998, rising to their highest level since the unprecedented housing boom of 1984. Personal income, after inflation, is climbing by 5 percent a year. Companies in Texas are doing better, overall, than businesses in the rest of the United States.