Austin Economic Indicators February 2015 via Dallas Fed

The Austin economy grew at a stable pace in December. Jobs expanded at a modest annualized rate of 0.7 percent, while the unemployment rate fell sharply to 3.7 percent. Housing markets remained steady, with permits and median home price appreciation indicating strong momentum moving into 2015. Austin-area manufacturing picked up at the end of 2014, with production and volume of new orders accelerating.

The Austin Business-Cycle Index grew at an 8.3 percent annualized rate over the second half of 2014. While this pace dipped slightly from 8.8 percent in the first half of the year, it remains more than 3 percentage points above the 30-year average. Job growth in the second half of the year was a below-average 2.7 percent, but a 0.4 percentage-point drop in the unemployment rate from June to December contributed to continued gains in the index.

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