Austin economy forecast to be better in 2006
This is from the Austin Business Journal…
“The greater Austin area’s economy is set to grow at a rate of 4.58 percent over the next 5 years, according to a new report.
Details of that report by Waco-based The Perryman Group were revealed Tuesday at a luncheon.
The 5-county metropolitan statistical area will be the fastest growing MSA in the state, says Ray Perryman, president and CEO of The Perryman Group. “We feel very good about the Austin economy right now,” Perryman says.
The 4.58 percent rate is projected compound annual growth rate for 2005 to 2010.
The region’s population will grow from 1.43 million to 1.58 million in the same time period, the report projects.
Personal income will also grow, from $44.96 billion to $55.53 billion. And retail sales will grow from $42.45 billion to $60.25 billion.
“Key locations and expansions in microelectronics in recent years will contribute to strong growth in the information and durable manufacturing sectors over the next year,” the report states. “