09252018Tue
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Manufacturing & The Economy

Texas Economy Likely to Cool in Second Half

Texas has added jobs at a “blistering” pace through the first six months of 2018, but there may be a slight cooldown ahead, according to the Federal Reserve Bank of Dallas’ latest Texas Economic Update.

“After red-hot gains in the first of the year, the Texas economy will likely cool in the second half due to a historically tight labor market and a slowing in export growth,” said Dallas Fed Senior Business Economist Laila Assanie in a video accompanying the release. “Additionally, Houston’s growth—which makes up 25% of the state’s employment—will likely cool in the second half as Hurricane Harvey-induced activity dissipates. Despite the cooling, Texas will still see solid and above-trend job growth in the second half.” 

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