The San Antonio economy continued to grow strongly in September, though indicators were more mixed than in August. Payroll employment contracted slightly at a 0.8 percent annualized rate. At the same time, the unemployment rate fell sharply to 4.7 percent. Housing indicators were mixed as August housing starts and September help-wanted ads for construction workers fell but median home prices rose and inventories remained low.
The San Antonio Business-Cycle Index rose at a strong annualized rate of 5.6 percent over the six months ended in September. After reaching 5.6 percent in June, the index continued to maintain this rate over the next three months.
Read more...San Antonio Economic Update October 2014 via Dallas Fed