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.