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Outlook for the Texas Economy

Outlook for the Texas Economy

August 2023

published by: Texas A&M University Texas Real Estate Research Center

August Summary:

Texas’ economy began showing signs of the Federal Reserve’s actions, and consumer confidence plummeted from price increases in gasoline. However, Texas’ labor market remains strong. Despite the cooling economy, the business outlook for both retail and service sectors remained positive. Crude oil exports rebounded after three months of reduction, and the state’s housing market picked up from last month’s decrease.
*All measurements are calculated using seasonally adjusted data, and percentage changes are calculated month-over-month, unless stated otherwise.
 
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