August 2, 2017
Employment in Texas grew, the unemployment rate declined, exports continued climbing and the overall Texas Business-Cycle Index ticked up, according to data from the Federal Reserve Bank of Dallas. The Business-Cycle Index “suggests ongoing expansion in the state’s economy . . . (increasing) an annualized 5.4% in June (2017) . . .” Dallas Fed analysts noted.
Exports from Texas grew 3.5% in May 2017, increased 5.8% year to date, and grew 1% year over year. Meanwhile, in June, employment expanded at a annualized 3.6%, above the state’s long-term average of 2%. Unemployment declined from 4.8% in May to 4.4% in June. The Dallas Fed is forecasting 2.8% job growth in 2017.
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