August 7, 2019
The Federal Reserve Bank of Dallas’ El Paso Business-Cycle Index continued its expansion in June, due to job growth and low unemployment. The index increased by an annualized 1% during the month, which was below May’s 2.7% growth.
Through June, employment increased by an annual 1.8%, which was above the metro’s long-term average of 1.5%. Meanwhile, the unemployment rate was at 3.8%.
Annualized total trade through the El Paso Port of entry stood at $82.5 billion in May, which was similar to levels a year ago, but 9% above the previous month. Imports totaled $49.4 billion, up 10% from April, while exports summed to $33.2 billion, up 7% from the previous month. The strong over-the-month increases are likely due to a decline in delays at the border and trade returning to normal levels, according to Dallas Fed analysts.
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