The Texas economy has continued to grow at a fast clip in recent weeks. Employment growth accelerated in October, and the Texas Business Outlook Survey indexes point to continued growth in retail and service sector activity in November. The Texas trade-weighted value of the dollar increased sharply, contributing to slowing export growth in October. Although energy sector activity has not yet responded significantly to falling oil prices, sustained prices below $60 per barrel will likely result in a sharp drop in drilling activity and dampen overall economic activity in 2015.
Read more...Regional Economy Continues to Expand Despite Headwinds - Dallas Fed