The Texas economy slowed last month with fewer service companies reporting increases in revenue and more manufacturers reporting declines in new orders, according to surveys by the Federal Reserve Bank of Dallas.
August was the third consecutive month that declines in new orders surpassed increases among manufacturing firms surveyed by the Dallas Fed.
The survey results are the latest signs foreshadowing a potential slowdown in the Texas economy. The state recovered all the jobs lost in the pandemic late last year, well ahead of most states and the nation, and Texas has been expanding ever since.
