Perryman discusses economic outlook during yearly Tyler appearance

TYLER — Noted economist Dr. Ray Perryman offers up his annual economic outlook for the Tyler Area Chamber of Commerce, starting with the Tyler region. Perryman tells KTBB things are looking optimistic for the Rose City area. He projects growth and employment that will exceed that of the state and the country. He notes that Tyler came back from COVID a little faster than everyone else, and that there has been more job growth since then. Perryman says we’re facing some headwinds on the national level, such as inflation, interest rates, and supply chain issues. He points out that there has been slower growth the last few months, but he doesn’t think we’re heading for a major recession — and may not see one at all. If there is such an event, Perryman expects it to be very mild, with a lot of momentum by the end of the year.

On the state level, Perryman thinks Texas will continue to outperform the country. He noted that of all the jobs added in the U.S. on a net basis since COVID, 70 per cent have been in Texas — and he believes that momentum will continue into next year.