A comprehensive list of recently added postings on Dallasfed.org.
Houston Economic Indicators, June 28, 2023
Houston employment grew 2.4 percent in the three months ending in May—slower growth than both the state’s and the nation’s. Houston’s construction sector has not rebounded to prepandemic levels and lags Texas and the U.S.
June 28, 2023
Growth slows in Texas service sector
Growth in Texas service sector activity slowed in June, according to business executives responding to the Texas Service Sector Outlook Survey.
June 27, 2023
Treasuries’ allure as safe haven noted in short maturities, not in long bonds
The United States has a large negative net-foreign-asset position, especially in safe assets. In times of crisis, U.S. government debt, especially short-term Treasuries, are viewed as a safe haven. As a result, the U.S. is a net debtor. It is more leveraged and tends to hold more risky assets (mostly equities) and finance those positions by selling safe-asset debt to the rest of the world.
June 27, 2023
Texas Economic Indicators, June 2023
The Texas economy expanded further in May. Payrolls rose in most sectors, and jobless claims fell in mid-June.
June 26, 2023
Banking Conditions Survey, June 2023
Loan demand declined for the seventh period in a row, and most bankers expect a further deterioration over the next six months.
June 26, 2023
San Antonio Economic Indicators, June 2023
San Antonio job growth accelerated as nearly all sectors experienced growth in May, and wages continued to rise but at a slower rate than in the prior month. In addition, the business-cycle rose and existing-home sales increased. However, unemployment went up.
June 23, 2023
Oil and gas activity flat; cost increases continue but moderate
Activity in the oil and gas sector was unchanged in second quarter 2023, according to oil and gas executives responding to the Dallas Fed Energy Survey.
June 22, 2023
Texas economic growth outpaces nation despite persistent downside risks
Texas employment growth advanced in May, continuing to surpass the national average.
June 22, 2023
El Paso Economic Indicators, June 21, 2023
El Paso’s employment grew slightly and its business-cycle index inched up during May.
June 21, 2023
Complementary Currencies and Liquidity: The Case of Coca-Base Money
In coca-growing villages of Colombia, where pesos are scarce, coca-base is not only used as the main input for cocaine production—it also acts as a complementary currency (CC), circulating locally as a medium of exchange for day-to-day transactions. This paper provides a clear rationale for the economically-motivated adoption of a CC in a small open economy underprovided with official currency.
June 21, 2023