Scores of economists are all predicting an oncoming recession in the next 6-12 months. All of them have their economic rationale for the likeliness of a recession, yet their preciseness is very vague.
Why is that?
Historically speaking, economists are really historians reporting on something that occurred 6-9 months ago. Data that supports a belief or fact.
However, here at The PM Group we see several American states that will avoid the recessionary hardships that most of the nation will experience. Texas and Florida are the two states that will avoid the severe economic harm of a recession. The pure reality of significant population migration to both states will buoy state and city economies here. Home builders can’t build new homes in Texas fast enough! The influx of businesses relocating here will keep our economy expanding. Border crossings even help the economy in the categories of food, clothing, housing, cheap labor, medicine, health care and education.
There will be some business categories within the vast Texas economy that will face slowdowns, but overall, our state will persevere better than areas like the West coast, and the New York/New England areas of the country. California will likely experience the biggest economic losses with its progressive politics and ever-increasing tax policies. Their ‘tax and spend’ government ways are driving businesses and their population out of state to alarming levels.
“It’s good to be based here in Texas with 98% of our advertising agency clients doing business here in Texas,” stated The PM Groups’ President and Chief Operating Officer, Fran Yanity.
About The PM Group: The PM Group was launched in 1988 by our CEO & Founder Bob Wills. Now in our 35th year, the agency has continued to grow and is San Antonio’s largest advertising agency under the leadership of President and COO Fran Yanity. The PM Group’s client roster spans numerous industries including home services, automotive, CPG, entertainment and sports marketing, legal, business services, non-profits, real estate and fitness. For two consecutive years now, the agency has set annual revenue records with the addition of six new clients and through the continued success of our existing clients. Additionally, the agency hosts their annual Charity Gala that to date has raised millions of dollars for local San Antonio and South Texas area non-profit organizations. In 2021 alone, the agency donated over $1,800,000 to local non-profits. It is our way of giving back to the community that we so humbly serve.