March 24, 2017
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Texas economic growth throughout February 2017 accelerated across sectors and throughout metropolitan areas, according to data from the Federal Reserve Bank of Dallas. The Dallas Fed’s 2017 Texas job growth forecast is 2.7%, higher than the state’s 2.1% average, and 2016’s 1.6%.
The year began with annualized employment growth of 4.9%, the highest since October 2014. The growth covered every sector. Additionally, the Texas Service Sector Outlook Survey showed an elevated revenue index in February, while the Texas Retail Outlook Survey’s sales index has been positive since November 2016. The Texas Manufacturing Outlook Survey production index was also higher in February, matching 2014 levels.
But not all is rosy. According to the Dallas Fed, potential headwinds could include an appreciating dollar, and new trade policies that might disrupt economic ties with Mexico.
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