Texas service sector grows but retail sees decline in sales

The Texas economy is once again a mixed bag: The state’s factory activity slowed in January, and its retail outlook worsened, but its service sector rebounded, according to new data from the Federal Reserve Bank of Dallas.
Productivity declined and demand for new orders remained anemic in the state’s manufacturing sector, according to business executives responding to the Texas Manufacturing Survey Outlook.
“The manufacturing sector in Texas continues to oscillate between below-average growth and no growth, while avoiding outright contraction despite several months of declining orders,” said Emily Kerr, senior business economist at the Dallas Fed.
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On the positive side, “the employment index remains a bright spot, moving up in January and continuing to signal above-average hiring,” Kerr said.
The anonymous Dallas Fed surveys received feedback from 417 manufacturing executives Jan. 17-25.
Based on