Where oil-rich Texas sees economic gains

22 Nov 2016   Economy, USA

┬áSome semblance of stabilization in the energy sector has resulted in a net positive for the state of the Texas economy, a regional banker said. The Federal Reserve Bank of Dallas reported unemployment fell in all nine major metropolitan areas in the state last month. Keith R. Phillips, a senior economist at the bank, said there were broad indicators showing modest growth was likely in the months ahead. “With the stabilization of the energy sector and some recent improvement in the manufacturing sector, the Texas economy is on solid ground and will likely improve moderately in 2017,” he said in a statement. Crude oil prices have leveled off in the mid- to upper-$40 per barrel range for much of the latter quarter of 2016, after falling below $30 per barrel during […]

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