DALLAS (KLIF/WBAP News) – The Dallas Federal Reserve Bank is predicting a continuation of economic growth in Texas.
Senior economist Keith Phillips issued a video Monday saying indicators show only a 15 percent chance that the economy could contract in coming months. In the video Phillips says despite the recent slowing and then partial recovery of the oil and gas industries broader economic conditions are bright.
The Austin American-Statesman reports Dallas Fed business economist Emily Kerr reported earlier this month Austin and Dallas are “still growing, unlike Houston that saw declines, but at a much slower pace.”
As of April energy related businesses in Texas had slashed some 50,000 jobs over the previous year, according to data released last week by the Texas Workforce Commission. Job growth is continuing however and is expected to bolster the overall state economy with improvements anticipated in the oil and gas industries.
