The Texas economy is growing at a modest pace after slowing from a slight acceleration near mid-year. Employment picked up in September to an annualized 1.4 percent pace after posting essentially no growth in August. The Texas Business Outlook Surveys (TBOS) point to continued weakness in the manufacturing sector and moderate strength in services.
The headwinds of declining energy markets and a strengthening dollar have continued to dampen growth prospects for the region. Metropolitan areas tied to oil and gas, such as Houston, or manufacturing, such as Fort Worth, saw weak job growth in August and September. Despite this, job growth in most other large metro areas remains robust, and growth for Texas overall should remain positive for the remainder of this year and into 2016.
Read more...Region Continues to Grow Despite Renewed Energy Headwinds - Dallas Fed
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