Pub 64 2023-2024 Issue 4

Senior Business Economist Laila Assanie, Federal Reserve Bank of Dallas, was the featured speaker at the April TADA Conference. Her presentation highlighted a positive economic outlook and solid job growth for Texas in 2024. Cleared for a Smooth Landing TEXAS ECONOMIC OUTLOOK To review the presentation in its entirety, scan the QR code. https://www.tada.org/common/ Uploaded%20files/Regional%20 Economic%20Update_4-15-24.pdf Cleared for a Smooth Landing Texas Economic Outlook Senior Business Economist April 15, 2024 Laila Assanie DISCLAIMER: The views expressed are the authors’ and do not necessarily reflect the views of the Federal Reserve Bank of Dallas or Federal Reserve System. 2 Overview  Labor market remains robust  Texas employment rose 2.6 percent in 2023, outpacing U.S.  YTD job growth is strong  Last year, labor force grew at its fastest pace in decades in part due to solid migration  Economic activity is slowing but positive  Manufacturing activity weak, modest growth in services  Home sales increasing, but activity in commercial real estate remains sluggish  Above-trend growth expected in 2024  Positive momentum present in early 2024  Retail spending remains strong  Near term risks to the outlook are somewhat balanced DEALERS’ CHOICE 14

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