Perryman issues upbeat economic report

TYLER — Internationally known economic expert Dr. Ray Perryman has some good news for Tylerites as he visits the city for his annual economic forecast. Perryman says Tyler was one of the fastest areas of the country to recover from the pandemic’s economic challenges. According to materials presented by Perryman, his latest outlook for the Tyler area calls for notable expansion over the next five years. Perryman says core industries such as health care and higher education continue to expand and form the basis for stable growth. In addition, he says recovery in the regional energy sector will contribute to gains in business activity. Other area industries including logistics are also expected to see gains over time. Overall, Perryman sees the outlook for the Tyler area as positive through the forecast horizon and beyond.

As for the rest of the state and the country, Perryman says the COVID-19 pandemic led to a significant economic downturn, but the Texas economy continues to recover. The U.S. economy has improved significantly since the worst of the pandemic, though previous levels have not yet been reached in employment and other indicators, according to Perryman.