San Antonio Economic Update December 2014 via Dallas Fed

The San Antonio economy grew at a very strong pace in November. Payroll employment growth reached a 10-year high of 9.4 percent. The unemployment rate fell to 4.5 percent, continuing the downward trend of the prior three months. Housing markets have been steady, although multifamily has shown some mixed signs in recent months. Stocks of companies based in San Antonio were weak in November and December as energy sector companies continued to feel the effects of falling oil prices.

Growth in the San Antonio Business-Cycle Index accelerated to 7.4 percent over the six months ended in November. Revised data show that the index has grown 7.2 percent this year and has been accelerating since the third quarter of 2013. Continued strength in the four components of the index has pushed growth the past several months higher than initially estimated.

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