Houston city skyline, Houston, USA. (Photo: Loop image / UIG via getty image)
6.2.5
Houston city skyline, Houston, USA. (Photo: Loop image / UIG via getty image)
6.2.5
Figure: Loop image / UIG via getty image
Houston city skyline, Houston, USA. (Photo: Loop image / UIG via getty image)
6.2.5
Houston city skyline, Houston, USA. (Photo: Loop image / UIG via getty image)
6.2.5
Figure: Loop image / UIG via getty image
The Texas economy recovered in the first quarter of 2019, and data suggests after December's slowdown in the year, when oil prices plummeted and the stock market suffered its worst annual decline since 2008.
According to the Dallas Federal Reserve, economic activity in the state has expanded slightly in the first quarter. According to a survey of local companies, many of the companies are beginning to feel positive about the current business environment compared to last quarter, and perceptions are approaching the historical average.
Payroll employment in the first quarter of 2019 rose 2.1{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}, but still surpasses US interest rates. Houston's quarterly employment growth increased 2.6 percent from the rest of the week, but in Dallas and San Antonio, employment increased 4.6 percent and 2.9 percent, respectively.
Economic atmosphere: Houston small business owners are less confident about the economy.
The Texas labor market is still in the Tight Year March unemployment rate is 3.8{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in March and unemployment rate has been low since the 2008 financial crisis. Long-term average 2{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.
Texas home sales increased in the first quarter, while mortgage rates fell. Most metropolitan areas in Texas saw increased home sales in February and March. Housing inventories continued to rise in the first quarter and are close to 3.9 months in most cities, but much lower than the six-month standard that the market seems to be balancing.
Economists at Dallas Fed wrote that slowing international trade, price volatility in the energy sector, and slowing growth in the Mexican economy could pose economic risks to Texas.
