The Houston economy continued to expand at a modest, but slower, pace through August. The business-cycle index and employment data were weaker, and the energy industry provided less of a boost to Houston over the summer. Hitting at the end of August, Hurricane Harvey was not included in the jobs data for August, which counts jobs on the payroll that included the 12th day of the month. However, analysis by the Dallas Fed suggests that while Harvey’s impact will be felt keenly, Houston and the Texas Gulf Coast are expected to recover quickly. Overall, while the near-term outlook is uncertain, the medium-term outlook remains positive.
Read more...Houston Economic Indicators - Dallasfed.org
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