Monday, October 8, 2018

Texas Economic Indicators October 3, 2018 via Dallas Fed

The regional economy continues to post strong growth and outpace the nation. Year to date, Texas employment growth is an annualized 3 percent, well above the U.S. growth of 1.7 percent. Regional activity is also expanding rapidly, with the September readings of the Dallas Fed Texas Business Outlook Surveys (TBOS) remaining near multiyear highs for production and revenue. Moreover, Texas personal income growth in the second quarter was the highest in the nation at 6 percent, which bodes well for second-quarter gross domestic product (GDP) growth (available on Nov. 14). First-quarter real GDP, the most recent GDP data available at the state level, shows the Texas economy grew an annualized 2.9 percent quarter over quarter compared with 2.2 percent for the nation.

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