The Texas economy was among the top five in the nation in gross state product growth according to an analysis of 2007 federal data released Tuesday.

Michael Lynch, regional economist for Global Insight (USA) Inc., said in a report that the Lone Star State had the fifth-highest percentage economic growth in 2007 compared to the previous year, in his study of statistics released by the Bureau of Economic Analysis.

Texas recorded gross state product growth of 6.9 percent in 2007, tying with Washington in fifth place. Utah had the biggest growth last year, at 7.9 percent, followed by New York (7.3 percent), North Dakota (7.2 percent) and Oklahoma and Montana tied for fourth at 7.1 percent.

In a measurement of strictly manufacturing activity, Texas had 7.2 percent growth in 2007, ranking eighth nationwide. Utah also topped that list, with manufacturing growth of 11.6 percent.

"Texas has clearly become a top performer, developing one of the largest and most diverse state economies in the country," said Lynch.

He cited factors such as faster population gains, low-cost business operating environments, favorable policies to attract new businesses and rising levels of educational attainment that are combining to attract prominent firms to relocate from lower performing states to those on a fast track.

"Conspicuously missing from the top ranks in 2007 were those perennially fast-growing states -- Arizona, Nevada and Florida -- which have suffered such large losses with the real estate correction."