Looking Up – Tx July Economic Update
“I don’t believe Texas is out of the Recession unless its manufacturing improves,” said a client recently. He is a smart man, and cautious, so I consider it wise to keep track of Texas’ Manufacturing activity. Note that this discussion is State-wide and not DFW-specific.
This report from the Dallas Fed for July, while still less than optimum, is showing an uptick in Texas manufacturing with significant improvement in New Orders, Growth Rate of Orders and Finished Goods Inventories.
Also important in July’s report is that 73% of respondents say they’re experiencing stability in orders or a little increase in orders. However, July employment index went even lower to -3.3, with 15% of firms reporting net layoffs v 11% of firms with net hiring.
Looking forward six months, almost 89% of this group of executives expect either an increase in production (45.5%) or at least constant production (40.4%) indicating a positive outlook for the next six months in Texas.
Two significant comments were made, one from the Paper Manufacturing industry and another from Electrical Equipment, Appliance, and Component Manufacturing of wages remaining constant but benefits are up 13% since July 1st and “Export sales represent a growing, and at times, significant part of our business.”
If you have any questions regarding buying or selling a house in the North Dallas or DFW market, or want to discuss the Texas Economic Update, please contact me via email at firstname.lastname@example.org or call 469-408-3148.
As a Realtor I maintain a list of professional and trades people who are licensed, qualified contractors to help you with financial planning, insurance needs, or any repairs and updates to your home.
Brenda Patton is a Texas-Licensed Realtor with Ebby Halliday Realtors located at 1415 Legacy Dr., Suite 100, Frisco, TX 75034. Office Telephone is 972-334-6564.