Business executives responding to the Federal Reserve Bank of Dallas’ Texas Service Sector Outlook Survey indicated a fast-paced growth in July 2019. The revenue index increased from 13.6 in June 2019 to 20.9 in July; the Dallas Fed indicated that one-third of respondents reported an increase in revenues. The employment index increased from 6.9 to
The yield on the benchmark 10-year U.S. Treasury note briefly dipped below the yield on the 2-year Treasury for the first time since 2007 on Wednesday. That inversion confirmed a fear for many observers that financial markets are signaling recession is coming for the U.S., even as the global economy weakens, and a trade war
The Austin Business-Cycle index expanded in June 2019, at an annualized rate of 8.1%. According to the Federal Reserve Bank of Dallas, the expansion was due to “historically low unemployment rates and robust job growth, suggesting healthy performance in the metro.” June’s unemployment rate stood at 2.6%, while payrolls increased at a 4.7% annualized rate
The Federal Reserve Bank of Dallas’ El Paso Business-Cycle Index continued its expansion in June, due to job growth and low unemployment. The index increased by an annualized 1% during the month, which was below May’s 2.7% growth. Through June, employment increased by an annual 1.8%, which was above the metro’s long-term average of 1.5%.
Cargo trade through Southern California is feeling the impact of the trade war between the U.S. and China. The Port of Los Angeles and Port of Long Beach imported 789,788 TEUs in July, an increase of just 0.5% from a year earlier. The combined July export volume of the ports declined to 272,994 TEUs, down