The regional economy is surging, with the Texas Business Outlook Survey (TBOS) production and revenue indexes at multiyear highs and annualized job growth of 3.6 percent year to date. Second-quarter job growth was 4.6 percent annualized, and July job growth was just as fast. Energy production continues to increase, and the rig count has risen since early August in spite of a decline in oil prices. Texas exports rebounded in July.
Housing markets have cooled off just enough to slow the frenetic pace of house price appreciation the past three years; however, prices are still rising, construction is increasing and sales volume is rebounding.
Read more...Regional Growth: Full Steam Ahead - Dallas Fed
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