Growth in the Texas economy slowed slightly in October due to continued declines in state and local government employment and the further weakening of exports. According to Federal Reserve Bank of Dallas surveys, the manufacturing sector continued to retrench in November, while private services picked up. The Dallas Fed’s Texas Leading Index increased in October but not enough to offset declines in previous months. Given the deceleration in job growth and recent overall weakness in the leading index, the job forecast for 2012 is for similar or slightly slower growth than the 2 percent in 2011.
Read more...Texas Economic Growth Slows - December 2011 - Economic Research - FRB Dallas