Southwest Economy
New Mexico fuels U.S. crude oil output, funding for local programs
New Mexico has become a U.S. leader in energy production over the past five years, drawing on Permian Basin reserves in the southeastern corner of the state. Oil and gas proceeds fund an increasing share of state government, most notably involving education programs.
March 24, 2025
Dallas Fed Economics
Decline in bank stress likely to continue as interest rates normalize
While the key measures suggest that conditions that hamper a bank’s resilience to economic adversity are marginally higher than before the pandemic in 2019, we expect further declines in bank stress levels as interest rates normalize.
March 04, 2025
Economic Indicators
Southern New Mexico Economic Indicators
Economic indicators were mixed in Las Cruces in fourth quarter 2024 after a slow third quarter. Employment grew solidly; however, unemployment rose.
February 28, 2025
Economic Indicators
Energy Indicators
Natural gas liquids production increased in 2024 as did exports. The number of U.S. chemical railcar loadings remained flat compared to last year. Intermediate chemical prices have risen in recent months, while chemical export numbers, adjusted for inflation, are on the decline.
February 20, 2025
Economic Indicators
Energy Indicators
U.S. exports of liquefied natural gas (LNG) are expected to continue to grow further into 2025. From October 2024 through the beginning of this year, U.S. natural gas and heating oil prices remained fairly steady.
January 23, 2025
Southwest Economy
Eleventh District community banks outperform peers despite weaker credit quality
Eleventh District community banks will likely continue to outperform their nationwide peers in terms of profitability, given their larger share of noninterest-bearing deposits.
December 27, 2024
Economic surveys
Agricultural Survey
Bankers responding to the fourth-quarter agricultural survey reported persistent weak conditions across most regions of the Eleventh District.
December 23, 2024
Economic Indicators
Energy Indicators
Gasoline and diesel prices have come down since 2022. While motor gasoline consumption was low compared with historic trends, distillate fuel consumption was significantly weak in 2024.
December 18, 2024
Economic Indicators
Energy Indicators
The capital expenditures index from the Dallas Fed Energy Survey as well as business investment in mining were nearly flat in third quarter 2024. Increases in the development cost index for Exploration and Production (E&P) firms are increasing at a faster rate than input costs for oil and gas (O&G) support service firms.
December 05, 2024
Southwest Economy
New Mexico draws on energy, trade to spur economy
While New Mexico continues to navigate economic and demographic challenges, increased revenues from oil and gas production provide opportunities to invest in education, infrastructure and other improvements to boost long-term growth.
December 04, 2024