Good News for San Antonio’s Economy
The San Antonio economy continued its growth in December 2016, according to a report released by the Federal Reserve of Dallas. The report noted that the San Antonio Business-Cycle Index expanded at a 3.7% annualized rate, which was above its 3% long-term average. Unemployment also remained low, at 3.7% in December (though it was 3.5% in November).
Driving the Index, in part, was Q4 2016 employment growth rate of 3% (annualized), with all sectors reporting gains, except for construction, mining and other services. Single-family home construction permits also increased more than 10% for the three months through November.
San Antonio-based companies’ stock prices fell 1.5% from Dec. 16 to Jan. 23, despite reaching a record high on Dec. 22. The S&P 500 climbed 0.3% during the period.
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