Regional Economy Continues to Grow but Decelerates Slightly via Dallas Fed

The regional economy grew at a moderate but slightly slower pace over the past six weeks amid mixed signals. Survey indicators dipped for both manufacturing and services in April, although the Dallas Fed’s Beige Book pointed toward stronger growth. Labor shortages and price pressures have become slightly more pronounced but remain mild.

Labor Market Expands at Moderate Pace in First Quarter

Texas’ first-quarter payroll employment growth was 2.1 percent annualized, almost exactly matching the state’s 2 percent trend growth level (Chart 1). However, growth has been very volatile over the past three months: up 0.5 percent in January, up 7 percent in February, down 0.9 percent in March.

Read more...Regional Economy Continues to Grow but Decelerates Slightly - Dallas Fed