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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