Seven UNCONVENTIONAL Economic Indicators By SPENCER GRUBBS This article initially appeared in Fiscal Notes, an economic publication by the Texas Comptroller of Public Accounts, and is reshared here with permission. Cardboard box production or sack lunches aren’t typical measures of state and national economies. It’s much more common to consult statistical reports from federal agencies like the Bureau of Labor Statistics, Bureau of Economic Analysis and Census Bureau for precise and dependable data that inform wide-ranging policy and spending decisions. But these reports are usually released once a month at most, and those studying the economy may need more frequent updates to keep their fingers on the pulse of the economy. That’s where unconventional economic indicators come in. During the height of the pandemic, for example, the Comptroller’s office examined factors including airline travel and restaurant reservations to continuously monitor real-time trends. The following indicators, as unofficial and unusual as they are, could preview our economic position long before we see the bigger picture from official reports. Wasn’t Born in Texas, but Got Here as Fast as I Could U-Haul tracks migration trends to and from every U.S. state and Canadian province, compiling data from more than 2.5 million one-way truck, trailer and portable moving container transactions annually. In 2024, the moving company ranked Texas as the state with the second-highest growth rate, based on the difference between the percentage of annual arrivals (50.3%) and departures (49.7%). Dallas-Fort Worth-Arlington was the top metro for growth in 2024, according to these data. Domestic migration helps fuel the state’s economy, as many people moving here are younger and more educated DEALERS’ CHOICE 26
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