Continued growth is projected for the rest of the year, but it may be somewhat restrained by the expiration of federal stimulus programs and election uncertainty. Small-business closures may accelerate if the economy doesn’t strengthen sufficiently.
Risks to the outlook are to the downside and include a possible resurgence of the virus and sustained lower oil prices. Early arrival of a safe and effective COVID-19 vaccine would be a game changer, although it would take time for broad dissemination and administration.
Read more...Texas Economy Improves Despite Lagging Sectors as COVID-19 Cases Decline via Dallas Fed