Dallas Fed: Moderate Economic Expansion

The Federal Reserve Bank of Dallas reported moderate expansion in economic activity throughout the Eleventh District since the first week of September . Manufacturing activity increased, retail sales were steady, and automobile sales continued strong.

Other good news for the district, which includes all of Texas, Northern Louisiana and Southern New Mexico, is that employment reports were more positive than in the prior reporting period. However, real estate activity was flat in most markets, while demand for oilfield services remained depressed. There was positive news on the oil front, where drilling activity increased.

Finally, with the drought all but over throughout Texas, ample rainfall has meant increases in crops and better pasture conditions than in the past.

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