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Austin Improves U.S. Economy

Posted by Vintage Oaks


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Residents of Austin are celebrating the improvement of the economy in the city. Austin, along with many other cities in the country, are continually increasing their percentage in gross metro product, which will allow the the U.S. to stay improving for another 6 years. Here is a section of an article from Biz Journal on the success of these improving cities.

The report relayed optimism about the improving U.S. economy and stressed that metro areas would be the quickest recover and improve as economy emerged from the effects of the recession. Austin led the nation's cities in 2013 with a gross metro product growth – the sum of all goods and services produced annually in a city – of 4.6 percent.

The city is expected to hold onto the No. 1 ranking through 2020, with an average annual gross metro product growth of 4.4 percent from between 2013 and 2020.

The report was released on the opening day of the annual U.S. Conference of Mayors national meeting in Dallas, which continues until Monday.

The report stressed that metro areas across the country would be the first to rebound, stating "Metro economies will lead the way, first enabling the nation to at last recover the jobs lost during the recession, and then propelling the U.S. economy to achieve its growth potential of greater than 3 percent real gains per year, a rate not reached since 2004."

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