Dallas Fed Economics: Texas economic conditions improve as price pressures build

State & Regional

(Photo provided by the Federal Reserve Bank of Dallas)

DALLAS (NEWS RELEASE) — The following is a news release from the Federal Reserve Bank of Dallas:

Texas economic conditions have improved, with the Texas Business Outlook Surveys in February showing a pickup in growth after a deceleration in January,  according to the Federal Reserve Bank of Dallas’ latest Texas Economic Update.

“The latest regional economic data is mostly positive, with Dallas Fed surveys showing a pickup in output growth,” said Dallas Fed senior business economist Jesus Cañas in a video accompanying the report. “Company outlooks improved strongly for manufacturers and slightly for service providers. Retail activity remained depressed.”

While activity dropped sharply the week of the winter storm in February, it bounced back the following week, according to the report.

“The winter storm’s negative impact has been mostly transitory as weekly staffing levels and Texas mobility and engagement have surpassed pre-storm levels,” said Cañas. “We predict higher than expected growth in March and April, and our 2021 Texas Employment Forecast remains unaffected at 6.5 percent growth by the end of the year.” 

(News release from the Federal Reserve Bank of Dallas)

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