Growth in the Texas economy picked up at year-end 2019 and accelerated into January, according to the Texas Business Outlook Surveys (TBOS). Job gains in December were led by service sector growth, adjusted Bureau of Labor Statistics payroll employment data showed.
Separately, TBOS respondents reported a return to mild expansion in manufacturing at the start of 2020.
The housing industry remained a bright spot, with increased home sales and construction permits, while the oil and gas sector continued to decline. Company outlooks have improved, with Texas business executives optimistic about activity in 2020.
Read more...Texas Economy Building Momentum to Start Year via Dallas Fed