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Regional Economic Update, May 2010 – Economic Research – FRB Dallas

May 7, 2010

Regional Economic Update
May 3, 2010

Regional Economy Continues to Pick Up Steam

Economic conditions have firmed up in Texas over the past six weeks, and new data and anecdotal evidence suggest that a recovery is under way in the state. Texas payroll employment is growing at a modest pace, and the Texas Business-Cycle Index has increased for three consecutive months. Factory output is expanding, residential real estate is firming up, and retail sales and exports are rising. The Texas Leading Index continues to show gains, consistent with gradual improvement.

However, risks to the recovery remain. Improvement in the residential real estate market continues to be buoyed by the homebuyer tax credit, which expired on April 30. The commercial real estate sector remains weak and is unlikely to see a significant turnaround for some time.


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