Texas Mining-Adjusted Real GDP
Texas mining-adjusted real GDP (RGDP) is a measure of state GDP that more accurately represents the impact of oil prices and production on the Texas economy than the initial quarterly Bureau of Economic Analysis (BEA) state GDP estimate.
For instance, when oil prices swing while production stays the same, the BEA’s Texas RGDP sees quarterly swings, which is more indicative of the deflator rather than the actual impact of oil on our state.
The biggest adjustment between the BEA and our measure is the removal of the mining component of GDP and the replacement with natural gas production.
This series will be updated quarterly after the BEA releases its state-level GDP estimates.
Related reading: A Closer Look at Potential Distortions in State RGDP: The Case of the Texas Energy Sector
