San Antonio Business-Cycle Expands at Fastest Rate in Six Years

Those thinking the San Antonio economy has been robust now have proof from the Federal Reserve Bank of Dallas. The Dallas Fed’s San Antonio Business-Cycle Index, measuring economic activity in the metro, expanded at an annualized 5.9% rate in October 2019. This metric represented the fastest expansion since April 2014, and nearly doubled the metro’s long-term trend of 3%.

Dallas Fed analysts indicated that job growth, low unemployment rates and increased retail sales are at the heart of the growth. The tight labor market continues, with the unemployment rate at 3%. Meanwhile, in the three months ending in October, the labor force growth was at 10%, on an annualized basis, with the metro adding jobs at a 6.2% annualized rate during the same period.

Also up are home sales, increasing 3% from Q2 2019 to Q3 2019, with year-to-date sales up 4.1% over the same period the year before.

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