Headlines - Federal Reserve Bank of Dallas The Federal Reserve Bank of Dallas serves the public by contributing to national monetary policy, supervising and regulating financial institutions, and helping maintain a strong payments system. http://www.dallasfed.org/rss/ en-us http://www.dallasfed.org/ Dallas Fed Logo http://www.dallasfed.org/~/media/Images/img/logo_gray http://www.dallasfed.org/rss/ El Paso Economic Indicators https://www.dallasfed.org:443/research/indicators/ep/2022/ep2201 Thu, 27 Jan 2022 15:45:00 EST El Paso’s economic expansion paused in December. The metro’s business-cycle index dipped, and its labor market contracted. El Paso Economic Indicators https://www.dallasfed.org:443/research/indicators/ep Thu, 27 Jan 2022 15:48:00 EST <em>El Paso Economic Indicators</em> is a web publication of key economic indicators that offers a snapshot of the El Paso economy. Federal Reserve Banks of Atlanta and Dallas Conference Explored Housing, Urban Economics https://www.dallasfed.org:443/research/economics/2022/0125 Tue, 25 Jan 2022 08:00:00 EST Residential real estate prices rose sharply throughout the United States following the onset of COVID-19 in early 2020. While property owners received a capital gains windfall, first-time buyers and renters have struggled with reduced affordability. Texas Economic Indicators https://www.dallasfed.org:443/research/indicators/tei/2022/tei2201 Tue, 25 Jan 2022 15:16:00 EST The Texas economy saw broad-based employment growth and a decline in unemployment in December. COVID-19 cases appear to have peaked in mid-January. Texas Economic Indicators https://www.dallasfed.org:443/research/indicators/tei Tue, 25 Jan 2022 17:57:00 EST <em>Texas Economic Indicators</em> is a web publication of key economic indicators that offers a snapshot of the Texas economy. Houston Economic Indicators https://www.dallasfed.org:443/research/indicators/hou/2022/hou2201 Wed, 19 Jan 2022 10:17:00 EST Houston extended its jobs recovery through November, and leading economic indicators suggest further recovery over the next several months. Nominal GDP Outlook Suggests It’s Time to End Monetary Accommodation https://www.dallasfed.org:443/research/economics/2022/0113 Thu, 13 Jan 2022 08:00:00 EST We argue that the policy response to COVID-19 has been broadly on track to date but that continued monetary accommodation (lowering interest rates or purchasing assets) risks fueling excessive inflation. How Did Federal Stimulus Recipients Use Their Checks? https://www.dallasfed.org:443/research/economics/2022/0111 Tue, 11 Jan 2022 08:00:00 EST Did stimulus payments go to—and were they used by—those who needed them the most? The evidence suggests that this was the case. Austin Economic Indicators https://www.dallasfed.org:443/research/indicators/aus/2022/aus2201 Mon, 10 Jan 2022 12:17:00 EST The Austin economy continued to expand in November. The Austin Business-Cycle Index increased, led by solid employment gains and a lower unemployment rate. Southern New Mexico Economic Indicators https://www.dallasfed.org:443/research/indicators/snm/2021/snm2104 Wed, 05 Jan 2022 18:08:00 EST The Las Cruces economy’s recovery from the pandemic-induced recession has slowed since May 2021, when the metro added 1,081 jobs in just one month. Southern New Mexico Economic Indicators https://www.dallasfed.org:443/research/indicators/snm Wed, 05 Jan 2022 18:11:00 EST Southern New Mexico Economic Indicators is a quarterly web publication of key economic indicators that offers a snapshot of the Southern New Mexico economy. A Ban on U.S. Crude Oil Exports Would Not Lower Gasoline Prices at the Pump https://www.dallasfed.org:443/research/economics/2022/0104 Tue, 04 Jan 2022 08:00:00 EST High gasoline prices have stimulated interest in what the Biden administration can do to lower the price at the pump. Agricultural Survey https://www.dallasfed.org:443/research/surveys/agsurvey/2021/ag2104 Mon, 03 Jan 2022 09:30:00 EST Bankers responding to the fourth-quarter survey reported improved conditions across most regions of the Eleventh District. Survey respondents noted record yields and prices for corn and cotton crops. Mexico’s Economic Growth Continues Slowing; Outlook Worsens https://www.dallasfed.org:443/research/update/mex/2021/2108 Fri, 31 Dec 2021 15:42:00 EST Mexico’s gross domestic product (GDP) contracted an annualized 1.7 percent in third quarter 2021. San Antonio Economic Indicators https://www.dallasfed.org:443/research/indicators/sa/2021/sa2112 Thu, 30 Dec 2021 15:01:00 EST Broad measures of the San Antonio economy were largely positive in November. The San Antonio Business-Cycle Index accelerated, jobs were added at a healthy pace and the unemployment rate fell. Dallas Fed Energy Survey https://www.dallasfed.org:443/research/surveys/des/2021/2104 Wed, 29 Dec 2021 09:30:00 EST The oil and gas sector continued growing in fourth quarter 2021, according to oil and gas executives responding to the Dallas Fed Energy Survey. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org:443/research/indicators/dfw/2021/dfw2112 Wed, 29 Dec 2021 17:31:00 EST Dallas–Fort Worth’s economic expansion strengthened in November. Payroll employment rose at a rapid clip, and unemployment dipped. The Dallas and Fort Worth business-cycle indexes advanced further. Dallas–Fort Worth Economic Indicators https://www.dallasfed.org:443/research/indicators/dfw Wed, 29 Dec 2021 17:44:00 EST <em>Dallas–Fort Worth Economic Indicators</em> is a monthly web publication of key economic indicators that offers a snapshot of the Dallas-Fort Worth economy. Texas Service Sector Growth Moderates in December https://www.dallasfed.org:443/research/surveys/tssos/2021/2112 Tue, 28 Dec 2021 09:30:00 EST The Texas service sector’s pace of growth slowed in December, according to business executives responding to the Texas Service Sector Outlook Survey. Why House Prices Surged as the COVID-19 Pandemic Took Hold https://www.dallasfed.org:443/research/economics/2021/1228 Tue, 28 Dec 2021 08:00:00 EST In the wake of the short but steep COVID-19 recession, house prices have risen at record levels in recent months, hitting the peak increase of 19.3 percent in July 2021. Special Questions https://www.dallasfed.org:443/research/surveys/tbos/2021/2112q Mon, 27 Dec 2021 09:30:00 EST For this month’s survey, Texas business executives were asked supplemental questions on revenue, the labor market, wages and prices. Texas Manufacturing Outlook Survey https://www.dallasfed.org:443/research/surveys/tmos/2021/2112 Mon, 27 Dec 2021 09:30:00 EST Texas factory activity increased at an above-average pace in December, according to business executives responding to the Texas Manufacturing Outlook Survey. Banking Conditions Survey https://www.dallasfed.org:443/research/surveys/bcs/2021/bcs2108 Mon, 27 Dec 2021 09:00:00 EST Loan demand picked up pace over the past six weeks, driving up overall loan-volume growth. Loan volumes increased across lending types, led by commercial real estate. Behind the Numbers: PCE Inflation Update, November 2021 https://www.dallasfed.org:443/research/pce/2021/pce2111 Thu, 23 Dec 2021 14:02:00 EST The headline, or all-items, PCE price index rose an annualized 7.6 percent in November after increasing an annualized 8.5 percent in October. Trimmed Mean PCE Inflation Rate https://www.dallasfed.org:443/research/pce Thu, 23 Dec 2021 10:27:00 EST The Trimmed Mean PCE inflation rate over the 12 months ending in October was 2.6 percent. El Paso Economic Indicators https://www.dallasfed.org:443/research/indicators/ep/2021/ep2113 Wed, 22 Dec 2021 08:26:00 EST The El Paso metro surpassed its prepandemic economic levels in November, according to its business-cycle index. Better Vehicle Batteries Needed to Power Energy Transition https://www.dallasfed.org:443/research/economics/2021/1221 Tue, 21 Dec 2021 08:00:00 EST A large-scale conversion to electric vehicles (EVs), necessary for a successful transition from fossil fuels, has yet to occur despite dramatic improvements in battery costs and performance over the past decade. Texas Economic Indicators https://www.dallasfed.org:443/research/indicators/tei/2021/tei2112 Tue, 21 Dec 2021 13:04:00 EST The Texas economic recovery continued in November, with payrolls growing strongly in all sectors and the unemployment rate declining. Comment on Giacomini, Kitagawa and Read’s ‘Narrative Restrictions and Proxies’ https://www.dallasfed.org:443/research/papers/2021/wp2117 Fri, 17 Dec 2021 20:52:00 EST This discussion puts the latest paper from Raffaella Giacomini, Toru Kitagawa and Matthew Read into the context of Giacomini and Kitagawa’s broader research agenda and relates it to the larger literature on estimating structural VAR models subject to sign restrictions. Go Figure: Pandemic, Remote Learning Undo STAAR Test Gains; Texas Student Scores Slide https://www.dallasfed.org:443/research/swe/2021/swe2104/swe2104f Fri, 17 Dec 2021 09:22:00 EST Hispanic and Black students’ scores on the 2021 exam fell more than those of white students and reversed previous years' gains. Energy Indicators https://www.dallasfed.org:443/research/energy/indicators/2021/en2109 Thu, 16 Dec 2021 17:14:00 EST Overall, global demand for petroleum is expected to surpass 2019 levels by the end of 2022, contingent on the course of COVID-19. In the meantime, the cost of global energy is elevated heading into winter. Spotlight: Natural Gas Demand Recovers, Lifts Prices https://www.dallasfed.org:443/research/swe/2021/swe2104/swe2104e Wed, 15 Dec 2021 09:23:00 EST Global demand for U.S. natural gas has risen as many pandemic-induced limits on economic activity have been lifted, but domestic production has only slowly recovered. Semiconductors Key to Global Growth; Geographic Supply Risks Loom https://www.dallasfed.org:443/research/swe/2021/swe2104/swe2104d Wed, 15 Dec 2021 09:24:00 EST Tyson Tuttle, CEO of Silicon Labs in Austin, shares his insights on current issues in the semiconductor industry and the challenges and opportunities that lie ahead. Southwest Economy, Fourth Quarter 2021 https://www.dallasfed.org:443/research/swe/2021/swe2104 Wed, 15 Dec 2021 11:00:00 EST This issue looks at increased migration to Texas during the pandemic and persisting joblessness in the state. Also included are a Q&A on current issues in the semiconductor industry and a spotlight on natural gas demand. Texas Joblessness Persists Above U.S. Rate, Weighing on Black, Hispanic Workers https://www.dallasfed.org:443/research/swe/2021/swe2104/swe2104c Wed, 15 Dec 2021 09:28:00 EST While the gender unemployment gap has largely dissipated in Texas, the gaps between white workers and both Black and Hispanic workers have persisted above pre-COVID-19 levels. Largest Texas Metros Lure Big-City, Coastal Migrants During Pandemic https://www.dallasfed.org:443/research/swe/2021/swe2104/swe2104b Wed, 15 Dec 2021 09:30:00 EST High-frequency data show that migration to Texas has accelerated during the pandemic. The emergence of working from home has lessened both workers’ and some companies’ reliance on physical offices, clearing the way for the new wave of mobility. Houston Economic Indicators https://www.dallasfed.org:443/research/indicators/hou/2021/hou2112 Thu, 09 Dec 2021 08:04:00 EST Recent data for the Houston region have been positive for growth. The Delta wave of the coronavirus has retreated as the number of people being vaccinated progresses. San Antonio Economic Indicators https://www.dallasfed.org:443/research/indicators/sa/2021/sa2111 Thu, 02 Dec 2021 07:35:00 EST Broad measures of the San Antonio economy were largely positive in October. The San Antonio Business-Cycle Index increased, jobs were added at a moderate pace and the unemployment rate was steady. Austin Economic Indicators https://www.dallasfed.org:443/research/indicators/aus/2021/aus2111 Thu, 02 Dec 2021 18:21:00 EST The Austin economy continued to expand in October. The Austin Business-Cycle Index increased, led by strong payroll gains. The unemployment rate moved sideways, while the labor force grew strongly. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org:443/research/indicators/dfw/2021/dfw2111 Thu, 02 Dec 2021 07:23:00 EST Economic growth in the Dallas–Fort Worth metroplex remained steady in October. Both payroll employment and the Dallas and Fort Worth business-cycle indexes—broad measures of local economic activity—increased strongly. Texas Service Sector Activity Picks Up in November as Price Pressures Intensify https://www.dallasfed.org:443/research/surveys/tssos/2021/2111 Tue, 30 Nov 2021 09:30:00 EST The Texas service sector’s pace of growth picked up in November, according to business executives responding to the Texas Service Sector Outlook Survey. Asset Prices, Leverage and Portfolio Rebalancing Drive Global Capital Flows Cycle https://www.dallasfed.org:443/research/economics/2021/1130 Tue, 30 Nov 2021 08:00:00 EST The amount of leverage—borrowed funds relative to the value of underlying assets—increases for risky holdings during downturns, motivating their ultimate sale to achieve a more secure financial position. The opposite occurs during upswings, as risky assets gain favor. Texas Manufacturing Outlook Survey https://www.dallasfed.org:443/research/surveys/tmos/2021/2111 Mon, 29 Nov 2021 09:30:00 EST Texas factory activity increased at a faster pace in November, according to business executives responding to the Texas Manufacturing Outlook Survey. Behind the Numbers: PCE Inflation Update, October 2021 https://www.dallasfed.org:443/research/pce/2021/pce2110 Wed, 24 Nov 2021 12:47:00 EST The headline, or all-items, PCE price index rose an annualized 7.8 percent in October after increasing an annualized 4.3 percent in September. Dallas Fed Trimmed Mean PCE 2.6 Percent for 12 Months Through October https://www.dallasfed.org:443/news/releases/2021/nr211124pce Wed, 24 Nov 2021 12:16:00 EST The Trimmed Mean PCE inflation rate over the 12 months ending in October was 2.6 percent—increased from September—according to the Federal Reserve Bank of Dallas. Texas Economic Indicators https://www.dallasfed.org:443/research/indicators/tei/2021/tei2111 Tue, 23 Nov 2021 14:44:00 EST The Texas economy continued to expand broadly in October. Employment growth was strong and broad based across sectors, and the unemployment rate dipped further. El Paso Economic Indicators https://www.dallasfed.org:443/research/indicators/ep/2021/ep2112 Tue, 23 Nov 2021 15:24:00 EST Despite slower growth compared with September, the El Paso metro neared its prepandemic economic levels in October. Limited Impact of Rising Energy Prices on U.S. Inflation, Inflation Expectations in 2020–23 https://www.dallasfed.org:443/research/economics/2021/1123 Tue, 23 Nov 2021 08:00:00 EST Predictions of $100 per barrel oil during the coming winter have raised fears of persistently high inflation and rising inflation expectations for years to come. However, quantitative analysis suggests that these concerns have been overstated. The Impact of Rising Oil Prices on U.S. Inflation and Inflation Expectations in 2020-23 https://www.dallasfed.org:443/research/papers/2021/wp2116 Fri, 19 Nov 2021 18:57:00 EST Predictions of oil prices reaching $100 per barrel during the winter of 2021/22 have raised fears of persistently high inflation and rising inflation expectations for years to come. This paper shows that these concerns have been overstated. Empirical Bayes Control of the False Discovery Exceedance https://www.dallasfed.org:443/research/papers/2021/wp2115 Thu, 18 Nov 2021 02:48:00 EST In sparse large-scale testing problems where the false discovery proportion (FDP) is highly variable, the false discovery exceedance (FDX) provides a valuable alternative to the widely used false discovery rate (FDR). This paper develops an empirical Bayes approach to controlling the FDX. Energy Indicators https://www.dallasfed.org:443/research/energy/indicators/2021/en2108 Tue, 16 Nov 2021 15:32:00 EST While oil and gas drilling activity is rising globally, international rig counts remain well below prepandemic levels. Delta Surge Disrupts Texas Firms Less than Earlier COVID-19 Waves, Dallas Fed Surveys Say https://www.dallasfed.org:443/research/economics/2021/1116 Tue, 16 Nov 2021 08:00:00 EST The overall impact on business of the summer and fall wave of the COVID-19 virus infection was more muted than initial surges because firms were better prepared and demand didn’t plunge as it did before, according to respondents to the Dallas Fed’s Texas Business Outlook Surveys. Banking Conditions Survey https://www.dallasfed.org:443/research/surveys/bcs/2021/bcs2107 Mon, 15 Nov 2021 08:15:00 EST Respondents in the Eleventh District financial sector were given an opportunity to comment on current issues that may be affecting their business. Wealth Inequality and Return Heterogeneity During the COVID-19 Pandemic https://www.dallasfed.org:443/research/papers/2021/wp2114 Wed, 10 Nov 2021 22:44:00 EST Wealth inequality in the U.S., measured by the top 1% wealth share, experienced dramatic changes in the first year of the COVID-19 pandemic. Economic theory suggests that the key to understanding wealth inequality is heterogeneity in the return to net worth across households. Bargaining Under Liquidity Constraints: Nash vs. Kalai in the Laboratory https://www.dallasfed.org:443/research/papers/2021/wp2113 Wed, 10 Nov 2021 02:43:00 EST This paper reports on an experiment in which buyers and sellers engage in semi-structured bargaining in two dimensions: how much of a good the seller will produce and how much money the buyer will offer the seller in exchange. Mexico Economic Growth Tumbles in Third Quarter; Outlook Worsens https://www.dallasfed.org:443/research/update/mex/2021/2107 Tue, 09 Nov 2021 12:44:00 EST Mexico’s gross domestic product (GDP) contracted an annualized 0.8 percent in third quarter 2021. Austin Economic Indicators https://www.dallasfed.org:443/research/indicators/aus/2021/aus2110 Fri, 05 Nov 2021 12:09:00 EST The Austin economy continued to expand in September. The Austin Business-Cycle Index increased, led by strong payroll gains. Recent COVID-19 hospitalizations declined further from the latest peak in August. Behind the Numbers: PCE Inflation Update, September 2021 https://www.dallasfed.org:443/research/pce/2021/pce2109 Fri, 05 Nov 2021 12:42:00 EST The headline, or all-items, PCE price index rose an annualized 3.9 percent in September after increasing an annualized 4.2 percent in August. Dallas Fed Names Elisa Johnson Vice President https://www.dallasfed.org:443/news/releases/2021/nr211104ejohnson Thu, 04 Nov 2021 16:29:00 EST The Federal Reserve Bank of Dallas has promoted Elisa Johnson to vice president responsible for the technology support function of the credit risk management business line of the Federal Reserve System. Houston Economic Indicators https://www.dallasfed.org:443/research/indicators/hou/2021/hou2111 Wed, 03 Nov 2021 12:50:00 EST Recent data for the Houston region have been positive for growth. The Delta wave of the coronavirus has retreated as the number of people being vaccinated progresses. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org:443/research/indicators/dfw/2021/dfw2110 Mon, 01 Nov 2021 15:22:00 EST Dallas–Fort Worth economic expansion accelerated in September. Payroll employment grew and finally surpassed its prepandemic high 19 months after COVID-19 battered the local labor market. San Antonio Economic Indicators https://www.dallasfed.org:443/research/indicators/sa/2021/sa2110 Fri, 29 Oct 2021 11:30:00 EST Broad measures of the San Antonio economy were largely positive in September. Payrolls surged in the month, though jobs in the third quarter posted tepid growth. Dallas Fed Trimmed Mean PCE 2.3 Percent for 12 Months Through September https://www.dallasfed.org:443/news/releases/2021/nr211029pce Fri, 29 Oct 2021 14:46:00 EST The Trimmed Mean PCE inflation rate over the 12 months ending in September was 2.3 percent—increased from August El Paso Economic Indicators https://www.dallasfed.org:443/research/indicators/ep/2021/ep2111 Wed, 27 Oct 2021 17:18:00 EST After stumbling in August, the El Paso metro continued its recovery from the pandemic-induced recession in September. Texas Economic Indicators https://www.dallasfed.org:443/research/indicators/tei/2021/tei2110 Tue, 26 Oct 2021 18:01:00 EST The Texas economy continued to recover in September. Payroll employment growth accelerated, and unemployment claims ticked up but remained near their lowest postpandemic levels. Texas Service Sector Activity Accelerates in October https://www.dallasfed.org:443/research/surveys/tssos/2021/2110 Tue, 26 Oct 2021 09:30:00 EST The Texas service sector’s pace of growth picked up in October, according to business executives responding to the Texas Service Sector Outlook Survey. Texas Manufacturing Outlook Survey https://www.dallasfed.org:443/research/surveys/tmos/2021/2110 Mon, 25 Oct 2021 09:30:00 EST Texas factory activity continued to increase in October, albeit at a slightly slower pace, according to business executives responding to the Texas Manufacturing Outlook Survey. ‘Great Ratios’ in Economics Don’t All Add Up https://www.dallasfed.org:443/research/economics/2021/1019 Tue, 19 Oct 2021 08:00:00 EST "Great ratios" are widely adopted in theoretical models in economics as conditions for balanced growth, arbitrage or solvency. However, the empirical literature has tended to find little evidence for them. What Might Inflation Look Like Next Year? https://www.dallasfed.org:443/research/economics/2021/1014 Thu, 14 Oct 2021 08:00:00 EST In our baseline scenario, core inflation is 2.6 percent in 2022. If this occurs, core inflation will have averaged 2.4 percent over the last five years, moderately above the Fed’s 2.0 percent inflation target. Austin Economic Indicators https://www.dallasfed.org:443/research/indicators/aus/2021/aus2109 Thu, 07 Oct 2021 16:46:00 EST The Austin economy continued to expand in August. The Austin Business-Cycle Index increased, led by declines in the unemployment rate. Energy Indicators https://www.dallasfed.org:443/research/energy/indicators/2021/en2107 Wed, 06 Oct 2021 12:44:00 EST Hurricane Ida temporarily impacted refining and petrochemical production, but the recovery was well underway for most facilities by the end of September. Dallas Fed Trimmed Mean PCE 2.0 Percent for 12 Months Through August https://www.dallasfed.org:443/news/releases/2021/nr211004pce Wed, 06 Oct 2021 16:05:00 EST The Trimmed Mean PCE inflation rate over the 12 months ending in August was 2.0 percent—unchanged from July—according to the Federal Reserve Bank of Dallas. Banking Conditions Survey https://www.dallasfed.org:443/research/surveys/bcs/2021/bcs2106 Mon, 04 Oct 2021 08:15:00 EST Respondents in the Eleventh District financial sector were given an opportunity to comment on current issues that may be affecting their business. Agricultural Survey https://www.dallasfed.org:443/research/surveys/agsurvey/2021/ag2103 Mon, 04 Oct 2021 09:00:00 EST Bankers responding to the third-quarter survey reported improved conditions across most regions of the Eleventh District. Survey respondents noted that rainfall and moisture have contributed to above-average crop yields so far this year. Southern New Mexico Economic Indicators https://www.dallasfed.org:443/research/indicators/snm/2021/snm2103 Fri, 01 Oct 2021 17:34:00 EST The Las Cruces economy’s recovery from the pandemic-induced recession stumbled in August. Behind the Numbers: PCE Inflation Update, August 2021 https://www.dallasfed.org:443/research/pce/2021/pce2108 Fri, 01 Oct 2021 14:15:00 EST The headline, or all-items, PCE price index rose an annualized 4.9 percent in August after increasing an annualized 4.9 percent in July. Technology Displaced Workers in Pandemic; Retraining Must Expand https://www.dallasfed.org:443/research/swe/2021/swe2103/swe2103d Thu, 30 Sep 2021 09:24:00 EST Tamar Jacoby, president of Opportunity America, discusses the pandemic, worker mobility and job training. Federal Support Keeps State Budgets (Including Texas’) Healthy amid Tumult from COVID-19-Induced Economic Ills https://www.dallasfed.org:443/research/swe/2021/swe2103/swe2103c Thu, 30 Sep 2021 09:28:00 EST An unprecedented federal fiscal response to the COVID-19-induced recession in early 2020 helped prop up state government finances even among states whose tax and finance structures put them at particular risk during a downturn. Snapshot: U.S. Recessions Test Latino Advances https://www.dallasfed.org:443/research/swe/2021/swe2103/swe2103g Thu, 30 Sep 2021 09:22:00 EST Economic outcomes of Latinos are far more sensitive to the business cycle than are outcomes for non-Hispanic whites. Spotlight: Missteps Along U.S.–Mexico Border Hinder Movement of COVID-19 Biomedical Trade https://www.dallasfed.org:443/research/swe/2021/swe2103/swe2103e Thu, 30 Sep 2021 09:23:00 EST While most activity in the Paso del Norte region is concentrated in automotive parts and electronic components, a cluster of biomedical manufacturers has emerged in Juárez in recent years. Once-Oil-Dependent Texas Economy to Keep Growing as Renewable Energy Expands https://www.dallasfed.org:443/research/swe/2021/swe2103/swe2103b Thu, 30 Sep 2021 09:30:00 EST The negative environmental impacts of global warming have motivated the beginnings of a global transition from traditional fossil fuels to renewable energy. Go Figure: Birth Rates Falling Faster in Texas than U.S. https://www.dallasfed.org:443/research/swe/2021/swe2103/swe2103f Thu, 30 Sep 2021 09:22:00 EST Although birth rates in Texas remain higher than in the U.S., their decline since 2007 has been particularly noteworthy. Southwest Economy, Third Quarter 2021 https://www.dallasfed.org:443/research/swe/2021/swe2103 Thu, 30 Sep 2021 11:00:00 EST This issue looks at renewable energy, and federal support and state budgets. Also included is a discussion on the pandemic, worker mobility and job training, a spotlight on biomedical trade on the border, and an infographic on the falling birth rates in Texas. Mexico’s Economic Growth Slows, Outlook Remains Steady https://www.dallasfed.org:443/research/update/mex/2021/2106 Wed, 29 Sep 2021 07:17:00 EST Mexico’s gross domestic product (GDP) grew an annualized 6.0 percent in second quarter 2021. However, the monthly proxy for GDP decelerated in the third quarter. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org:443/research/indicators/dfw/2021/dfw2109 Wed, 29 Sep 2021 16:26:00 EST DFW’s economic recovery remained on track in August. Job growth slowed from July but was robust relative to the historical average. Dallas Fed Energy Survey https://www.dallasfed.org:443/research/surveys/des/2021/2103 Wed, 29 Sep 2021 09:30:00 EST Solid oil and gas sector growth continued in third quarter 2021, according to oil and gas executives responding to the Dallas Fed Energy Survey. Texas Service Sector Expansion Slows Slightly in September https://www.dallasfed.org:443/research/surveys/tssos/2021/2109 Tue, 28 Sep 2021 09:30:00 EST The pace of growth in the Texas service sector slowed slightly in September, according to business executives responding to the Texas Service Sector Outlook Survey. Houston Economic Indicators https://www.dallasfed.org:443/research/indicators/hou/2021/hou2110 Tue, 28 Sep 2021 17:24:00 EST Despite some signs of slowing amid headwinds from the Delta wave, the Houston recovery is on pace to end the year strong. Texas Manufacturing Outlook Survey https://www.dallasfed.org:443/research/surveys/tmos/2021/2109 Mon, 27 Sep 2021 09:30:00 EST Texas factory activity continued to increase in September, according to business executives responding to the Texas Manufacturing Outlook Survey. Rob Kaplan to Retire as Dallas Fed President https://www.dallasfed.org:443/news/releases/2021/nr210927kaplan Mon, 27 Sep 2021 14:30:00 EST Rob Kaplan, who has served as president and CEO of the Federal Reserve Bank of Dallas since September 2015, will retire effective October 8. San Antonio Economic Indicators https://www.dallasfed.org:443/research/indicators/sa/2021/sa2109 Fri, 24 Sep 2021 16:56:00 EST Broad measures of the San Antonio economy were mixed in August, with jobs declining but the unemployment rate falling. The San Antonio Business-Cycle Index continued to increase but at a slower pace. The Local Fiscal Multiplier of Intergovernmental Grants: Evidence from Federal Medicaid Assistance to States https://www.dallasfed.org:443/research/papers/2021/wp2112 Fri, 24 Sep 2021 18:54:00 EST Using a novel estimate, this paper finds that federal Medicaid assistance provided powerful fiscal stimulus to states after the Great Recession when the implied multiplier shot up to 1.5, despite modest economic effects over the entire sample period. El Paso Economic Indicators https://www.dallasfed.org:443/research/indicators/ep/2021/ep2110 Wed, 22 Sep 2021 17:06:00 EST The El Paso economy’s pace of recovery from the pandemic-induced recession slowed in August. While employment levels in the metro slipped, unemployment fell and the business-cycle index rose. Texas Economic Indicators https://www.dallasfed.org:443/research/indicators/tei/2021/tei2109 Tue, 21 Sep 2021 16:58:00 EST Texas economic activity continues to expand. Payrolls increased in August in all sectors except leisure and hospitality and construction, and unemployment declined. Energy Indicators https://www.dallasfed.org:443/research/energy/indicators/2021/en2106 Mon, 20 Sep 2021 14:48:00 EST U.S. oil and gas payrolls continued to increase in July. Oil prices rose in response to recovering demand, limited supply growth and eroding inventories. Natural gas prices increased due to healthy domestic and export demand and disruptions related to Hurricane Ida. Houston Economic Indicators https://www.dallasfed.org:443/research/indicators/hou/2021/hou2109 Tue, 07 Sep 2021 17:26:00 EST 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. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org:443/research/indicators/dfw/2021/dfw2108 Thu, 02 Sep 2021 07:14:00 EST Recovery in the DFW economy continued at a healthy pace in July. The Dallas and Fort Worth business-cycle indexes expanded, buoyed by strong job growth. Austin Economic Indicators https://www.dallasfed.org:443/research/indicators/aus/2021/aus2108 Thu, 02 Sep 2021 15:37:00 EST The Austin economy accelerated in July. The Austin Business-Cycle Index grew at a strong pace, led by declines in the unemployment rate and recent broad-based job gains. Texas Service Sector Expansion Moderates in August https://www.dallasfed.org:443/research/surveys/tssos/2021/2108 Tue, 31 Aug 2021 09:30:00 EST The pace of growth in the Texas service sector slowed in August, according to business executives responding to the Texas Service Sector Outlook Survey. Texas Manufacturing Outlook Survey https://www.dallasfed.org:443/research/surveys/tmos/2021/2108 Mon, 30 Aug 2021 09:30:00 EST Texas factory activity continued to increase in August, albeit at a slower pace, according to business executives responding to the Texas Manufacturing Outlook Survey.