Perryman Presents Upbeat Economic Forecast

TYLER — Internationally-known economist Dr. Ray Perryman offers his annual economic forecast to the Tyler-area business community. The Lindale native says the Tyler economy looks very good to him at the moment. He points to expansion in the manufacturing and distribution industries, what he terms a “very strong” health care sector, and what he sees as “a great deal of diversity in the economy.” Perryman adds, “There’s some dependence on (the) oil and gas market, but not nearly as much as you see in some parts of the state.”

On the state level, Perryman says, “Texas will continue to grow; it will continue to grow faster than the rest of the country. But it is going to take a hit in terms of growth rates because of what’s going on with oil and gas right now.” Perryman was referring to recent drops in oil prices, natural gas prices, and rig counts. Overall, he expects the state’s growth rate to be cut in half in coming months. But he adds, “The good news is you can cut our growth rate in half and we’re still growing a lot.”

As for the national picture, Perryman commented, “The U.S. economy is finally, after a lot of years of doldrums, finally hitting on all…cylinders.” He notes, “You’re seeing a lot of job growth, a lot of output growth, investment growth; consumer confidence is high.”