The Dallas Fed’s latest economic indicators point toward continued strength for the state of Texas. The Fed found solid job growth, a record low unemployment rate, strong business financial performance, and optimism from its business sentiment surveys. The following highlights demonstrate continued confidence in the Texas market:
Employment expanded at an annualized 6.4 percent in October, outpacing the nation’s 2.2 percent growth
Year to date, Texas employment has grown at a 2.7 percent annual rate
The Texas Business Cycle Index rose an annualized 5.8 percent in October, well above its long-run average of 3.9 percent, and has increased every month since mid-2016
The Business Outlook Survey shows continued optimism across the Texas economy
Home prices and sales continued to increase from last year
These economic indicators bode well for continued growth for the Texas economy going into 2018.
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