Dallas Fed: Energy Boosts Texas Economy

By Houston Business Journal

The economy over the course of the past six weeks expanded moderately in the 11th district, which includes the Houston region, according to the Federal Reserve Bank of Dallas Beige Book report.

The latest report released Jan. 12 says the energy sector remained a source of strength for the area in the final weeks of 2010.

Staffing firms also noted steady demand levels, while retailers said they were on track to outpace 2009 selling levels.

Construction activity is still ⿿subdued⿝ and loan demand remains weak, the report said.

Some firms that responded to the survey were experiencing higher input prices at the end of 2010, while few firms reported higher selling prices.

Retailers said prices remained steady and are expected to increase in the second half of 2011.

The retail industry expects to finish 2010 on a positive note thanks to higher holiday sales and inventories that are at desired levels, the report said.

In terms of hiring, staffing firms are adding employees in anticipation of more hiring in 2011.

Both primary metals and high-tech manufacturing firms made reports of payroll increases, with airlines hiring staffers for call centers and airports.

Energy industry leaders say theyâ¿¿re looking for a few skilled workers in the new year to fill specific positions.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/13/dallas-fed-energy-strong-sector.html?ana=thestreet

Copyright bizjournals.com 2010

More from Commodities

Watch This If You're Wondering How Much Gold to Have and When to Sell

Watch This If You're Wondering How Much Gold to Have and When to Sell

How Can Gold Continue This Upward Momentum?

How Can Gold Continue This Upward Momentum?

Week Ahead: Investors Keep Economy in Check as Trade, North Korea Talks in Limbo

Week Ahead: Investors Keep Economy in Check as Trade, North Korea Talks in Limbo

Oil Rally Steadies Even as Potential Supply Disruptions Persist

Oil Rally Steadies Even as Potential Supply Disruptions Persist

The Outlook for Gold Prices Looks Awful Even With 10-Year Yields Above 3%

The Outlook for Gold Prices Looks Awful Even With 10-Year Yields Above 3%