San Antonio Economic Update July 2014 via Dallas Fed

San Antonio saw mixed signs of growth in June after a very strong month in May, although broader measures of economic activity point toward continued expansion. The unemployment rate dropped to 4.7 percent, comparable to prerecession levels in 2008. However, payroll job growth slowed to an annualized 0.4 percent after a strong 6.3 percent increase in May. Housing starts slowed slightly, but other indicators such as construction employment and sales point to continued strength in housing.

Growth in the San Antonio Business-Cycle Index picked up again in June, with the six-month growth rate increasing from 5.0 to 5.3 percent, continuing the upward trend in growth that began at the end of 2013. This increase was driven primarily by a decline in the unemployment rate to 4.7 percent.

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