Texas Economic Indicators Report

The June 2010 Texas Economic Indicators report, compiled by the Federal Reserve Bank of Dallas, is out. Texas employment maintains its ongoing expansion in April with 78,700 jobs added since the beginning of 2010. Texas unemployment rates continue to be well below the U.S. rate. Housing starts rose 5 percent in April and were up 50 percent from April 2009. Existing home sales saw an increase of 8.3 percent, as did house prices with a 0.5 percent rise from the previous year. These are healthy indicators of improvement and strength in the Texas housing sector. Quarterly real Texas exports witnessed growth for the fourth consecutive quarter with a gain of 4.3 percent, as did Texas's rig count which is up 87 percent from last year. The manufacturing production index, a key indicator of manufacturing conditions, rose to its highest point in three years, evidencing an expansion in Texas manufacturing activity. The Texas economy shows promise of continued progress.

For further information and to download the report, please visit: http://www.dallasfed.org/research/indicators/tei.pdf

June 16, 2010

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