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
Economic Indicators
Energy Indicators
The U.S. rig count declined year over year in October and has been easing over the last three months. The Permian Basin had the steepest decline in oil drilling compared with other U.S. basins.
November 07, 2024
Economic Indicators
Southern New Mexico Economic Indicators
Economic activity was sluggish in Las Cruces in the third quarter. Employment was flat, and unemployment continued to rise. Hourly earnings slid further continuing a pattern since early 2023.
November 05, 2024
Economic surveys
Agricultural Survey
Bankers responding to the third-quarter agricultural survey reported weaker conditions across most regions of the Eleventh District.
September 23, 2024
Southwest Economy
Old oil fields reimagined as lithium sources
The Smackover Formation, extending broadly from East Texas to Florida, is ground zero in the effort to produce lithium from oilfield brines.
September 20, 2024
Economic Indicators
Energy Indicators
The annual U.S. Energy and Employment Report (USEER) from the Department of Energy shows that the solar industry had the highest number of jobs related to the production of electricity in 2023, and it outgrew all other power-generation categories. However, petroleum and natural gas remains the largest energy employer.
September 13, 2024
Economic Indicators
Southern New Mexico Economic Indicators
Employment in Las Cruces grew above trend in the second quarter; however, unemployment ticked up in June and was higher than the state and nation. Growth in median home prices and apartment rents has subsided, but prices remain high.
August 30, 2024
Economic Indicators
Energy Indicators
Natural gas exports are recovering and poised to rise further. Real power prices are rising—achieving new highs—while the Electric Reliability Council of Texas (ERCOT) eyes the potential for August power outages.
July 17, 2024