Recession hits Texas - Houston still grows

Texas’ economy started losing steam in late 2008, and now has joined the rest of the country in a full-blown recession, according to a new report from the Dallas Federal Reserve.

The state was, fortunately, late to the party: The national recession started in December 2007. It took another six months before Texas’ economy began to slow down, the report said.

Key indicators, including job growth, exports, and various manufacturing indexes all fell in the second half of the year, the report said.

Among the state’s biggest cities, Austin and Dallas have slowed the most in recent months, while Houston continued to grow.

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