Austin's gross metro product up

July 13th, 2009

Wednesday, June 17, 2009
Austin Business Journal

The Austin area's gross metropolitan product increased 0.6 percent from the fourth quarter of 2008 to the first quarter of 2009, ranking it 2nd among the top 100 metros, according to a new study.

Liberal think tank the Brookings Institution on Wednesday published its “MetroMonitor,” which tracks economic recession and recovery in the nation’s largest metro areas. In addition to gross metropolitan product, other areas covered by the study include changes in employment levels, unemployment rates, wages and housing prices.

Austin also posted a 0.5 percent drop in employment--one of the more modest decreases among the metros. Meanwhile, wages for employees increased 1.4 percent between the end of 2008 and first quarter of 2009 and housing prices ticked up an average of 2.4 percent.
Brookings ranked San Antonio, Oklahoma City, Austin, Houston and Dallas as the top five metro areas in the country in economic performance in the wake of the recession.

To read the complete study, click here.

For the original article, click here.

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