The Texas economy continues to expand, with the Texas Business-Cycle Index increasing at a 4.1 percent annual rate in December. Texas single-family construction permits and existing-home sales increased in January, while housing starts declined. Texas exports ticked up slightly in the fourth quarter of 2012. Manufacturing activity increased but at a slower pace in February, according to the Texas Manufacturing Outlook Survey.
Growth in the Texas Business-Cycle Index was strong in early 2012 before weakening in the summer months. Growth accelerated again in the latter part of 2012 and surpassed 4 percent throughout the fourth quarter. The index increased 4.1 percent in December.
The index combines movements in employment, the unemployment rate and state real gross domestic product to provide a broader view of the state’s economic health. Periods of negative change in the index indicate recessions in Texas..
Read more...Texas Economic Indicators March 2013 via Dallas Federal Reserve