The Texas economy continues to expand at a moderate pace, with payroll employment growing at a 2.1 percent annualized pace in the second half of the year versus the lackluster 0.8 percent rate in the first half. October job growth was subdued, but September data were revised up. The Texas Business Outlook Surveys (TBOS) point to stronger growth in both manufacturing and services in November. The Texas Employment Forecast suggests that job growth for the year will be 1.5 percent (December/December) and that growth next year will be close to the state’s long-term trend rate of 2.1 percent.
Read more...Texas Economy Positioned to Improve in 2017 - Dallas Fed