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/ Texas Manufacturing Outlook Survey: Survey Methodology, Performance and Forecast Accuracy https://www.dallasfed.org/research/papers/2024/wp2402 Thu, 28 Mar 2024 22:02:00 EST This paper describes the survey methodology and analyzes the explanatory and predictive power of TMOS indexes with regard to other measures of state economic activity. Improved business outlooks, faster job growth boost Texas outlook https://www.dallasfed.org/research/economics/2024/0328 Thu, 28 Mar 2024 13:00:00 EST A majority of Texas Business Outlook Surveys participants expect increasing demand over the next six months, signaling an improving business outlook, even as inflation and wage growth in Texas remain elevated. El Paso Economic Indicators https://www.dallasfed.org/research/indicators/ep/2024/ep2403 Wed, 27 Mar 2024 18:15:00 EST El Paso job growth saw little change in February, and the unemployment rate remained the same. In addition, imports and exports picked up through the El Paso port, U.S. industrial production grew, and both auto production and sales increased. Outlook improves even as oil and gas activity little changed; Breakeven prices increase https://www.dallasfed.org/research/surveys/des/2024/2401 Wed, 27 Mar 2024 14:30:00 EST Activity in the oil and gas sector was relatively unchanged in the first quarter of 2024, according to oil and gas executives responding to the Dallas Fed Energy Survey. Texas Economic Indicators https://www.dallasfed.org/research/indicators/tei/2024/tei2403 Tue, 26 Mar 2024 21:26:00 EST The Texas economy expanded strongly in February. Payroll growth strengthened and the unemployment rate remained flat as it has for the past seven months, while labor force growth slowed. The Impact of the 2022 Oil Embargo and Price Cap on Russian Oil Prices https://www.dallasfed.org/research/papers/2024/wp2401 Tue, 26 Mar 2024 18:07:00 EST This paper documents the effect of the oil embargo and price cap on Russian oil exports in the wake of the Russian invasion of Ukraine in February 2022. Examinations of the Reserve Bank https://www.dallasfed.org/fed/financials/23financials Tue, 26 Mar 2024 15:00:00 EST The combined financial statements of the Reserve Banks as well as the annual financial statements of each of the 12 Banks and the consolidated LLC entity are audited annually by an independent auditing firm retained by the Board of Governors. Modest growth continues in Texas service sector https://www.dallasfed.org/research/surveys/tssos/2024/2403 Tue, 26 Mar 2024 14:30:00 EST Texas service sector activity expanded in February after contracting in January, according to business executives responding to the Texas Service Sector Outlook Survey. Disparate supply-side forces gave U.S. economy an edge https://www.dallasfed.org/research/economics/2024/0326 Tue, 26 Mar 2024 13:00:00 EST The U.S. economy boasts robust growth and slowing inflation despite the highest interest rates in two decades. Such performance isn’t common globally, especially among other advanced economies, revealing crucial differences in the fundamental factors driving inflation and growth. Investing in the Batteries and Vehicles of the Future: A View Through the Stock Market https://www.dallasfed.org/research/papers/2023/wp2314 Tue, 26 Mar 2024 04:24:00 EST A large number of companies operating in the EV and battery supply chain have listed on a U.S. stock exchange in recent years. This paper compiles a unique data set of high-frequency stock returns for those companies and investigates the extent to which an “industry” factor specific to the EV and battery supply chain (an “EV” factor) can explain their returns. Special Questions https://www.dallasfed.org/research/surveys/tbos/2024/2403q Mon, 25 Mar 2024 14:30:00 EST For this month&rsquo;s survey, Texas business executives were asked supplemental questions on wages, prices and outlook concerns.  Texas Manufacturing Outlook Survey https://www.dallasfed.org/research/surveys/tmos/2024/2403 Mon, 25 Mar 2024 14:30:00 EST Texas factory activity weakened in March after stabilizing in February, according to business executives responding to the Texas Manufacturing Outlook Survey. Agricultural Survey https://www.dallasfed.org/research/surveys/agsurvey/2024/ag2401 Mon, 25 Mar 2024 12:59:00 EST Bankers responding to the first-quarter survey reported persistent weak conditions across most regions of the Eleventh District. Estimating Macroeconomic News and Surprise Shocks https://www.dallasfed.org/research/papers/2023/wp2304 Sat, 23 Mar 2024 04:30:00 EST This paper examines the ability of the state-of-the-art VAR approach in Kurmann and Sims (2021) to identify responses to TFP news shocks and possibly surprise shocks in theory and practice. Development bank funds border infrastructure to aid U.S.–Mexico trade https://www.dallasfed.org/research/swe/2024/swe2403 Fri, 22 Mar 2024 13:00:00 EST Calixto Mateos, former managing director of the North American Development Bank, discusses his work at the NADBank and its role enhancing trade. Energy Indicators https://www.dallasfed.org/research/energy/indicators/2024/en2404 Wed, 13 Mar 2024 16:08:00 EST Coal power usage continues to decline in Texas. Solar power will be roughly half of all new electric-generation additions in both Texas and the U.S. in 2024, according to the Energy Information Administration. Short-term credentials meet growing interest among students, employers https://www.dallasfed.org/cd/communities/2024/2402 Wed, 06 Mar 2024 15:30:00 EST Proponents of short-term credentials hope these programs that are shorter (and often cheaper) than traditional college can boost economic mobility for students who would otherwise forgo a degree. Revisiting the odd behavior of the Beveridge curve as unemployment stays low https://www.dallasfed.org/research/economics/2024/0305 Tue, 05 Mar 2024 14:00:00 EST At first glance, it seems unlikely that the unemployment rate would remain stable if the number of job vacancies decreased. However, such a scenario played out recently as the number of firms seeking to fill positions by poaching employees from other firms increased, while the ranks of the unemployed remained relatively stable. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org/research/indicators/dfw/2024/dfw2402 Fri, 01 Mar 2024 22:38:00 EST The Dallas–Fort Worth economy expanded in December. Payroll employment rose moderately, and unemployment dipped. Home prices were relatively flat in the fourth quarter, and affordability held steady. Discussion of ‘Quantitative Tightening Around the Globe: What Have We Learned?’ by Wenxin Du, Kristin Forbes and Matthew Luzzetti https://www.dallasfed.org/news/speeches/logan/2024/lkl240301 Fri, 01 Mar 2024 15:15:00 EST President Logan discussed a new report on quantitative tightening around the world and implications for the Federal Reserve’s monetary policy decisions. Dallas Fed Trimmed Mean PCE 3.2 Percent for 12 Months Through January  https://www.dallasfed.org/news/releases/2024/nr240229pce Thu, 29 Feb 2024 20:09:00 EST The Trimmed Mean PCE inflation rate over the 12 months ending in January was 3.2 percent—roughly flat from the prior month—according to the Federal Reserve Bank of Dallas. Trimmed Mean PCE inflation rate https://www.dallasfed.org/research/pce Thu, 29 Feb 2024 18:24:00 EST The Trimmed Mean PCE inflation rate over the 12 months ending in January was 3.2 percent. According to the BEA, the overall PCE inflation rate was 2.4 percent on a 12-month basis, and the inflation rate for PCE excluding food and energy was 2.8 percent on a 12-month basis. Growth resumes in Texas service sector activity, company outlook improves https://www.dallasfed.org/research/surveys/tssos/2024/2402 Tue, 27 Feb 2024 15:30:00 EST Texas service sector activity expanded in February after contracting in January, according to business executives responding to the Texas Service Sector Outlook Survey. Special Questions https://www.dallasfed.org/research/surveys/tbos/2024/2402q Mon, 26 Feb 2024 15:30:00 EST For this month’s survey, Texas business executives were asked supplemental questions on expected demand and hiring. Texas Manufacturing Outlook Survey https://www.dallasfed.org/research/surveys/tmos/2024/2402 Mon, 26 Feb 2024 15:30:00 EST Texas factory activity stabilized in February after contracting in January, according to business executives responding to the Texas Manufacturing Outlook Survey. The Dual Beveridge Curve https://www.dallasfed.org/research/papers/2022/wp2221 Thu, 22 Feb 2024 05:30:00 EST This paper proposes a novel dual vacancy model that segments the labor market into separate search processes for unemployed and employed workers and provides a better fit to the data than traditional models assuming a homogeneous market. Inflation forecasts based on money growth proved accurate in 2021, though generally unreliable https://www.dallasfed.org/research/economics/2024/0220 Tue, 20 Feb 2024 15:31:00 EST As money demand changes, and in particular as money velocity fluctuates with interest rates, this relationship can become unstable with money growth providing limited useful information for inflation forecasting. Banking Conditions Survey https://www.dallasfed.org/research/surveys/bcs/2024/bcs2401 Tue, 20 Feb 2024 15:30:00 EST Loan volumes remained stable, with near-equal shares of bankers reporting an increase over the past six weeks as those reporting a decrease. Southern New Mexico Economic Indicators https://www.dallasfed.org/research/indicators/snm/2023/snm2304 Thu, 15 Feb 2024 14:49:00 EST Las Cruces’ economy rebounded in fourth quarter 2023 after weakening in the third. Employment grew broadly, and the unemployment rate held steady. Hourly earnings declined in Las Cruces and New Mexico in 2023. Energy Indicators https://www.dallasfed.org/research/energy/indicators/2024/en2403 Tue, 13 Feb 2024 22:27:00 EST The U.S. rig count declined in 2023, natural gas prices declined, and oil prices held relatively steady. Large oil and gas exploration and production (E&P) firms are turning their attention to acquiring assets in 2024, while small firms are aiming to grow production. Government-funded R&D produces long-term productivity gains https://www.dallasfed.org/research/economics/2024/0213 Tue, 13 Feb 2024 14:00:00 EST Our estimates indicate that government-funded R&D accounts for roughly one quarter of all business sector productivity growth since World War II, including one quarter of the deceleration in productivity growth since the late 1960s. Demographic Transition, Industrial Policies and Chinese Economic Growth https://www.dallasfed.org/research/papers/2022/wp2210 Thu, 08 Feb 2024 05:30:00 EST This paper builds a unified framework to quantitatively examine how demographic transition and industrial policies have contributed to China’s economic growth in the past five decades. Texas economy moderates toward more normal growth in 2024 https://www.dallasfed.org/research/economics/2024/0206 Tue, 06 Feb 2024 14:00:00 EST Texas economic growth remains healthy while gradually reverting to a more historically normal pace of expansion following the pandemic when a bust in the first half of 2020 preceded a subsequent boom. Hang your hat in Texas: State remains a leader in firm relocations https://www.dallasfed.org/research/swe/2024/swe2402 Fri, 02 Feb 2024 14:00:00 EST Recently released data through 2019 show Texas remains a juggernaut, a leader for business relocations. And while figures covering the subsequent pandemic era and beyond are incomplete, anecdotal evidence suggests Texas remains a go-to spot. Austin Economic Indicators https://www.dallasfed.org/research/indicators/aus/2024/aus2402 Thu, 01 Feb 2024 18:17:00 EST Austin lost jobs in December as layoffs in the high-tech sector continued, and the unemployment rate increased. Rent prices stabilized, and home inventories increased. Texas Economic Indicators https://www.dallasfed.org/research/indicators/tei/2024/tei2402 Wed, 31 Jan 2024 00:17:00 EST The Texas economy expanded at a robust pace last year. Payrolls expanded in December, and the unemployment rate dropped. Initial unemployment claims ticked down in mid-January. Texas service sector activity slips back into contraction https://www.dallasfed.org/research/surveys/tssos/2024/2401 Tue, 30 Jan 2024 15:30:00 EST Growth in Texas service sector activity contracted slightly in January, according to business executives responding to the Texas Service Sector Outlook Survey. Texas Manufacturing Outlook Survey https://www.dallasfed.org/research/surveys/tmos/2024/2401 Mon, 29 Jan 2024 15:30:00 EST Texas factory activity contracted in January after stabilizing in December, according to business executives responding to the Texas Manufacturing Outlook Survey. Special Questions https://www.dallasfed.org/research/surveys/tbos/2024/2401q Mon, 29 Jan 2024 15:30:00 EST For this month’s survey, Texas business executives were asked supplemental questions on labor market conditions. El Paso Economic Indicators https://www.dallasfed.org/research/indicators/ep/2024/ep2402 Fri, 26 Jan 2024 20:56:00 EST El Paso job growth grew in December, and the unemployment rate remained the same. In addition, U.S. industrial production grew, and both auto production and sales increased. Houston Economic Indicators https://www.dallasfed.org/research/indicators/hou/2024/hou2402 Thu, 25 Jan 2024 19:14:00 EST Houston job growth slowed from September through December, finishing the year with 2.9 percent growth from December 2022. Houston’s unemployment rate was flat in December as Texas unemployment dipped for the first time since November 2022. Energy Indicators https://www.dallasfed.org/research/energy/indicators/2024/en2402 Wed, 24 Jan 2024 22:34:00 EST Natural gas liquids (NGLs) production increased in 2023, and exports grew to new heights. U.S. chemical production improved in 2023, helped by easing input costs. The petrochemicals sector saw softening prices, and the basic chemicals sector saw increasing real export values.  Mexico’s economy shows mixed signals toward end of 2023 https://www.dallasfed.org/research/update/mex/2024/2401 Fri, 19 Jan 2024 19:21:00 EST Mexico’s economy likely grew more than 3 percent in 2023 as the proxy for monthly GDP increased for the ninth consecutive month in November. Brownsville experiencing greatest growth burst ‘in my lifetime’ https://www.dallasfed.org/research/swe/2024/swe2401 Fri, 19 Jan 2024 19:00:00 EST Texas National Bank President Joe Quiroga, a lifelong resident of the Lower Rio Grande Valley area and Dallas Fed director, discusses the area’s rapid growth and its future prospects. U.S. 30-year mortgage predominance doesn’t seem to delay impact of Fed rate hikes https://www.dallasfed.org/research/economics/2024/0116 Tue, 16 Jan 2024 14:00:00 EST After comparing economic data of the U.S. and other major advanced economies, we find tentative evidence that the slow adjustment of the outstanding mortgage rate in the U.S. has not played an important role in delaying the intended effects of the monetary tightening. San Antonio Economic Indicators https://www.dallasfed.org/research/indicators/sa/2024/sa2401 Thu, 11 Jan 2024 22:21:00 EST San Antonio payroll job growth slowed in November. In addition, unemployment declined, and retail sales tax revenue stabilized; however, wages stagnated. Houston Economic Indicators https://www.dallasfed.org/research/indicators/hou/2024/hou2401 Thu, 11 Jan 2024 17:42:00 EST Houston employment growth was strong in November, with services driving the 2.7 percent increase from August levels. Construction continued to decline as the real estate market slowed. Median home-price growth in the metro returned to the prepandemic normal, and mortgage rates remained elevated as sales and housing inventories rose. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org/research/indicators/dfw/2024/dfw2401 Thu, 11 Jan 2024 14:23:00 EST The Dallas–Fort Worth economy weakened in November. Payroll employment fell, while unemployment dipped. Retail sales tax collections and apartment demand rose in December, while single-family housing permits were relatively flat in November. El Paso Economic Indicators https://www.dallasfed.org/research/indicators/ep/2024/ep2401 Wed, 10 Jan 2024 16:10:00 EST El Paso job growth slowed in November, wages declined, and the unemployment rate fell. In addition, new single-family home permits declined. Austin Economic Indicators https://www.dallasfed.org/research/indicators/aus/2024/aus2401 Tue, 09 Jan 2024 19:17:00 EST In November, Austin experienced solid job growth, accompanied by a decline in the unemployment rate and a slight fall in wage growth. Arbitrage limits heighten dollar shortages abroad during volatile times https://www.dallasfed.org/research/economics/2024/0109 Tue, 09 Jan 2024 14:00:00 EST U.S. dollars are hard to find in foreign markets during times of heightened risk, as evidenced by two interesting and related features in the post-2007 international financial landscape. Opening remarks at panel on Market Monitoring and the Implementation of Monetary Policy https://www.dallasfed.org/news/speeches/logan/2024/lkl240106 Sat, 06 Jan 2024 16:15:00 EST At the American Economic Association annual meeting, President Logan spoke about market monitoring and the implementation of monetary policy. Texas Economic Indicators https://www.dallasfed.org/research/indicators/tei/2024/tei2401 Fri, 05 Jan 2024 13:28:00 EST The Texas economy expanded in November. Employment grew faster than in October, while unemployment remained flat. Energy Indicators https://www.dallasfed.org/research/energy/indicators/2024/en2401 Thu, 04 Jan 2024 14:42:00 EST U.S. exports of liquefied natural gas (LNG) are expected to continue to grow into 2024. Global natural gas and heating oil prices are subdued as the winter outlook has moderated, while propane prices are increasing but remain significantly below last year’s levels. Strength in consumer spending does not necessarily imply low probability of recession https://www.dallasfed.org/research/economics/2024/0102 Tue, 02 Jan 2024 15:31:00 EST Consumption was not a main driver of GDP declines in previous recessions, and a recession is not necessarily preceded by declines in consumer spending. Banking Conditions Survey https://www.dallasfed.org/research/surveys/bcs/2023/bcs2308 Tue, 02 Jan 2024 15:30:00 EST Credit standards tightened at a slower pace across all loan types. Loan demand continued to decline, though at the slowest pace since the end of 2022. Agricultural Survey https://www.dallasfed.org/research/surveys/agsurvey/2023/ag2304 Tue, 02 Jan 2024 13:59:00 EST Bankers responding to the third-quarter survey reported overall weaker conditions across most regions of the Eleventh District. Texas service sector activity rebounds https://www.dallasfed.org/research/surveys/tssos/2023/2312 Wed, 27 Dec 2023 15:30:00 EST Growth in Texas service sector activity resumed in December, according to business executives responding to the Texas Service Sector Outlook Survey. Special Questions https://www.dallasfed.org/research/surveys/tbos/2023/2312q Tue, 26 Dec 2023 15:30:00 EST For this month’s survey, Texas business executives were asked supplemental questions on wages, prices and outlook concerns. Texas Manufacturing Outlook Survey https://www.dallasfed.org/research/surveys/tmos/2023/2312 Tue, 26 Dec 2023 15:30:00 EST Texas factory activity stabilized in December after contracting in November, according to business executives responding to the Texas Manufacturing Outlook Survey. A Narrative Analysis of Federal Appropriations for Research and Development https://www.dallasfed.org/research/papers/2023/wp2316 Fri, 22 Dec 2023 05:30:00 EST This paper provides a narrative analysis of postwar federal appropriations for the research and development (R&D) activities of the Department of Defense, Department of Energy, National Aeronautics and Space Administration, National Institutes of Health and National Science Foundation—five agencies that consistently account for the vast majority of federal outlays for all types of R&D. The Returns to Government R&D: Evidence from U.S. Appropriations Shocks https://www.dallasfed.org/research/papers/2023/wp2305 Fri, 22 Dec 2023 05:00:00 EST Based on a narrative classification of all significant postwar changes in R&D appropriations for five major federal agencies, this paper finds that an increase in nondefense R&D appropriations leads to increases in various measures of innovative activity and higher business-sector productivity in the long run. Texas economic activity, job growth weaken as 2023 closes https://www.dallasfed.org/research/economics/2023/1221 Thu, 21 Dec 2023 14:00:00 EST Texas economic growth slowed in the fourth quarter, with job growth falling sharply in October and business activity contracting slightly in November. Statement on Transparency and Accountability Policy at the 12 Federal Reserve Banks https://www.dallasfed.org/news/releases/2023/nr231221tap Thu, 21 Dec 2023 14:00:00 EST In the interest of further strengthening the Federal Reserve System’s commitment to transparency, today the 12 Federal Reserve Banks released a common policy for public requests for information. Dallas Fed Energy Survey https://www.dallasfed.org/research/surveys/des/2023/2304 Wed, 20 Dec 2023 15:30:00 EST Activity in the oil and gas sector was essentially unchanged in fourth quarter 2023, according to oil and gas executives responding to the Dallas Fed Energy Survey. State and local governments rake in surpluses after pandemic https://www.dallasfed.org/research/economics/2023/1219 Tue, 19 Dec 2023 14:00:00 EST The existence of large sums in state and local government coffers runs counter to historic post-recession trends. State and local governments usually grapple with budget shortfalls due to rising social program demands and weak revenue streams following recessions. WARN layoff notices signal easing Texas labor market https://www.dallasfed.org/research/swe/2023/swe2315 Fri, 15 Dec 2023 17:18:00 EST Even with Texas employment growing rapidly and jobless rates remaining low in 2023, mass layoffs may be heading higher, according to notices of pending workforce reductions filed with state officials. Widening gap between rich and poor poses challenge to U.S. https://www.dallasfed.org/research/swe/2023/swe2312 Wed, 13 Dec 2023 19:00:00 EST Economist Jeffrey Fuhrer, a nonresident fellow at the Brookings Institution and former Boston Fed director of research, discusses the nation’s income and wealth gaps and offers proposals to close them. Fuhrer’s recently published book, “The Myth that Made Us,” explores inequalities in the nation’s economic system. <!-- Economist Jeffrey Fuhrer, a nonresident fellow at the Brookings Institution and former Boston Fed director of research, discusses The Myth that Made Us, his new book about inequalities in the nation’s economic system. He offers proposals to close the nation’s wealth gap in a discussion with Dallas Fed economist Pia Orrenius. --> Remarks before the Market Risk Advisory Committee of the U.S. Commodity Futures Trading Commission https://www.dallasfed.org/news/speeches/speeches-leaders/2023/231211schulhofer-wohl Mon, 11 Dec 2023 16:45:00 EST Remarks by <a href="/fed/leadership/schulhofer-wohl">Sam Schulhofer-Wohl</a> at the Market Risk Advisory Committee of the U.S. Commodity Futures Trading Commission. Austin Economic Indicators https://www.dallasfed.org/research/indicators/aus/2023/aus2312 Thu, 07 Dec 2023 01:28:00 EST In October, Austin experienced flat employment growth, wages increased slightly, and unemployment remained steady. In contrast, housing permits increased, and home prices declined. Houston Economic Indicators https://www.dallasfed.org/research/indicators/hou/2023/hou2312 Wed, 06 Dec 2023 21:56:00 EST Houston employment was stronger than anticipated in October, as the latest early benchmark revision put employment growth at 3.0 percent in the 12 months ending in October 2023. Leisure and hospitality, government and information led growth, while professional and business services and construction showed declines from July to October. Fed credibility enhanced when public finds policymakers relatable https://www.dallasfed.org/research/swe/2023/swe2311 Wed, 06 Dec 2023 14:00:00 EST University of Chicago Booth School associate professor Michael Weber explains how audiences are especially receptive to monetary policy messaging delivered by Fed officials whose ethnic or gender background is similar to theirs and outlines the broader implications of such enhanced credibility. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org/research/indicators/dfw/2023/dfw2311 Fri, 01 Dec 2023 23:35:00 EST The Dallas–Fort Worth economy slowed in October. Payroll employment fell, while unemployment was little changed. El Paso Economic Indicators https://www.dallasfed.org/research/indicators/ep/2023/ep2311 Thu, 30 Nov 2023 22:35:00 EST El Paso employment declined from July to October. The business-cycle index increased slightly, and the unemployment rate fell. In addition, wage growth stabilized. The U.S. industrial production index decreased, and both auto production and sales dropped. San Antonio Economic Indicators https://www.dallasfed.org/research/indicators/sa/2023/sa2312 Thu, 30 Nov 2023 20:05:00 EST San Antonio payroll jobs continued to grow at an elevated rate in October after a sharp pickup in September. In addition, unemployment declined despite the increases in the labor force, and wages rose; however, retail sales tax continued to decline. Energy Indicators https://www.dallasfed.org/research/energy/indicators/2023/en2311 Wed, 29 Nov 2023 19:57:00 EST Gasoline and diesel prices have come down since the end of summer, with gasoline prices seeing a stronger decline. A drop in gasoline consumption contributed to bloated gasoline inventories, while consumption of diesel is still relatively healthy, contributing to higher refining margins for the heavier product. New disruption from artificial intelligence exposes high-skilled workers https://www.dallasfed.org/research/swe/2023/swe2314 Wed, 29 Nov 2023 17:05:00 EST With workers still grappling with the consequences of automation, the lightning-speed pace of artificial intelligence (AI) development poses fresh concerns of a new wave of worker displacement. Texas service sector activity declines in November https://www.dallasfed.org/research/surveys/tssos/2023/2311 Tue, 28 Nov 2023 15:30:00 EST Texas service sector activity contracted in November for the first time since December 2022, according to business executives responding to the Texas Service Sector Outlook Survey. Reciprocal deposit networks provide means to exceed FDIC’s $250,000 account cap https://www.dallasfed.org/research/economics/2023/1128 Tue, 28 Nov 2023 14:00:00 EST Because of their prominence, reciprocal deposits are important in the broader discussion of deposit insurance. Though they have the potential to increase banks’ moral hazard, they also bring increased trust and safety to the banking system. Texas Economic Indicators https://www.dallasfed.org/research/indicators/tei/2023/tei2311 Mon, 27 Nov 2023 19:58:00 EST The Texas economy expanded further in September. Employment grew strongly, and unemployment remained flat. Mexico’s economic momentum continues; outlook improves https://www.dallasfed.org/research/update/mex/2023/2307 Mon, 27 Nov 2023 16:36:00 EST Mexico’s real GDP grew at a revised annualized 3.4 percent in the second quarter, about the same as the previous quarter’s gains of 3.3 percent. This is the seventh consecutive quarter the Mexican economy has expanded, and growth is generally surprising to the upside. Texas Manufacturing Outlook Survey https://www.dallasfed.org/research/surveys/tmos/2023/2311 Mon, 27 Nov 2023 15:30:00 EST Texas factory activity contracted in November after two months of expansion, according to business executives responding to the Texas Manufacturing Outlook Survey. Special Questions https://www.dallasfed.org/research/surveys/tbos/2023/2311q Mon, 27 Nov 2023 15:30:00 EST For this month’s survey, Texas business executives were asked supplemental questions on credit conditions. State output remains distinctly Texan, while jobs mix increasingly resembles the U.S. https://www.dallasfed.org/research/swe/2023/swe2313 Fri, 17 Nov 2023 15:00:00 EST Lore and data have historically suggested that Texas is unlike any other place. Over the past 40 years, change has swept the state. Texas’ employment composition has increasingly come to resemble the entirety of the U.S., more so than even California or New York. But Texas economic output is another story. Southern New Mexico Economic Indicators https://www.dallasfed.org/research/indicators/snm/2023/snm2303 Wed, 15 Nov 2023 20:45:00 EST The Las Cruces economy was weak in the third quarter. Employment fell broadly, and the unemployment rate increased. Home listings surged, but home prices were little changed. Korea, Japan growth experiences suggest China’s economy to slow in next 20 years https://www.dallasfed.org/research/economics/2023/1114 Tue, 14 Nov 2023 14:00:00 EST The Chinese economy has grown at an unprecedented pace since the 1980s. However, the pace of growth is likely to slow as China’s economy matures because of its demographic structure and its increasing proximity to economic and technological frontiers. Banking Conditions Survey https://www.dallasfed.org/research/surveys/bcs/2023/bcs2307 Mon, 13 Nov 2023 15:30:00 EST Credit standards continued to tighten, and loan pricing continued to rise at an above-average pace this period. Ample reserves and the Friedman rule https://www.dallasfed.org/news/speeches/logan/2023/lkl231110 Fri, 10 Nov 2023 12:30:00 EST How should central banks supply liquidity in an evolving global financial system? Dallas Fed President Lorie Logan shared her framework for weighing the tradeoffs in a keynote address at the European Central Bank. Slowing Texas economy remains on track for a soft landing https://www.dallasfed.org/research/economics/2023/1109 Thu, 09 Nov 2023 14:00:00 EST The impact of a still-strong Texas jobs market and moderating business activities and costs suggest that the state’s economy may be headed for a soft landing following Fed policymaker efforts to cool inflationary pressures. Energy Indicators https://www.dallasfed.org/research/energy/indicators/2023/en2310 Wed, 08 Nov 2023 20:50:00 EST Oil and gas executives expect the rig count to remain at current levels at the start of next year. Exploration and production (E&P) firms—especially the smaller ones—are preparing to see higher well completion and drilling costs in 2024. Texas among states feeling most stressed by inflation https://www.dallasfed.org/research/economics/2023/1107 Tue, 07 Nov 2023 14:00:00 EST As consumer prices have climbed at a faster rate in Texas and surrounding states than nationally—food and shelter increasing even more—Texans are feeling especially stressed about rising prices. Houston Economic Indicators https://www.dallasfed.org/research/indicators/hou/2023/hou2311 Fri, 03 Nov 2023 15:02:00 EST Houston employment grew 3.6 percent from June through September 2023, picking up from the slowdown in the three months ending in August. Employment in the oil and gas sector slowed and rig counts fell in September. Austin Economic Indicators https://www.dallasfed.org/research/indicators/aus/2023/aus2311 Thu, 02 Nov 2023 13:02:00 EST In September, Austin’s employment sector expanded significantly, accompanied by a decline in the unemployment rate and slower wage growth. Dallas-Fort Worth Economic Indicators https://www.dallasfed.org/research/indicators/dfw/2023/dfw2310 Tue, 31 Oct 2023 21:44:00 EST Dallas–Fort Worth’s economy gained momentum in September. Payroll gains accelerated, unemployment dipped, and retail sales tax collections rose. Texas service activity flat, outlook continues to worsen https://www.dallasfed.org/research/surveys/tssos/2023/2310 Tue, 31 Oct 2023 14:30:00 EST Growth in Texas service sector activity stalled in October, according to business executives responding to the Texas Service Sector Outlook Survey. Special Questions https://www.dallasfed.org/research/surveys/tbos/2023/2310q Mon, 30 Oct 2023 14:30:00 EST For this month’s survey, Texas business executives were asked supplemental questions on credit conditions. Texas Manufacturing Outlook Survey https://www.dallasfed.org/research/surveys/tmos/2023/2310 Mon, 30 Oct 2023 14:30:00 EST Growth in Texas factory activity continued in October, according to business executives responding to the Texas Manufacturing Outlook Survey. El Paso Economic Indicators https://www.dallasfed.org/research/indicators/ep/2023/ep2310 Fri, 27 Oct 2023 16:55:00 EST El Paso's employment contracted in September, and its business-cycle index was flat. However, the unemployment rate fell. Trade volumes cooled from the previous year. Both U.S. auto production and sales rose. San Antonio Economic Indicators https://www.dallasfed.org/research/indicators/sa/2023/sa2311 Thu, 26 Oct 2023 21:00:00 EST San Antonio payroll jobs increased in September at the fastest rate in over a year. In addition, unemployment declined despite the increases in the labor force, and wages rose. Texas Economic Indicators https://www.dallasfed.org/research/indicators/tei/2023/tei2310 Wed, 25 Oct 2023 18:58:00 EST The Texas economy expanded further in September. Employment grew strongly, and unemployment remained flat.