Solid expansion continued in the Eleventh District economy, though surging COVID-19 cases has added uncertainty to outlooks. Growth in the manufacturing and nonfinancial services sectors remained strong, and retail sales rose in August after holding steady in recent months.
There are signs that Houston’s third wave of COVID-19 infections that began in late July was depressing local economic activity by the end of August, albeit modestly. Payroll growth in July accelerated as Houston’s recovery continued.
At the Dallas Fed, we're working to support the financial health of the people and businesses in the Eleventh District as we deal with this unprecedented crisis.
Many people in our district face barriers to economic opportunity. We're proud to support and celebrate National Workforce Development Month, which recognizes the importance of living wage career pathways and access to quality employment.
The Dallas Fed promotes a strong financial system and healthy economy for everyone in the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico. We’re building a strong economy together.
