Latest Texas General Activity Index Falls to GFC Level
Can US Recession Even be Avoided w/o Texas?
Texas alone has as about the same size economy as Canada, or Australia, or Russia!
Manufacturing activity in Texas contracted the most since the depths of the Global Financial Crisis, with the headline General Business Activity Index falling to a super recessionary -34.6 this month, vs consensus forecasts of about -14.5
January is the 13th consecutive month in contraction. The last time Texas saw a longer run of back-to-back contractions in its index was 08-09, with a grand total of 25 months in contraction during the Great Recession - which, it shouldn't go without reminding, was not just a US Recession - but an entire worldwide economic meltdown.
Looking out ahead, the Texas Business outlook also tumbled deeper in the red, at -19.5, compared to -10.5 in December. Survey respondents pointed to the collapsing oil prices, slumping stock market, and the strong dollar as the three biggest culprits to statewide weakness.
Texas Leading Index (last updated for Nov 2015) strongly flagged a coming US Recession alert. Texas leads the nation in...
Posted by Recession Journal on Monday, January 25, 2016
Some Texas Stats
Texas alone has as about the same size economy as Canada, or Australia, or Russia!
Manufacturing activity in Texas contracted the most since the depths of the Global Financial Crisis, with the headline General Business Activity Index falling to a super recessionary -34.6 this month, vs consensus forecasts of about -14.5
January is the 13th consecutive month in contraction. The last time Texas saw a longer run of back-to-back contractions in its index was 08-09, with a grand total of 25 months in contraction during the Great Recession - which, it shouldn't go without reminding, was not just a US Recession - but an entire worldwide economic meltdown.
Looking out ahead, the Texas Business outlook also tumbled deeper in the red, at -19.5, compared to -10.5 in December. Survey respondents pointed to the collapsing oil prices, slumping stock market, and the strong dollar as the three biggest culprits to statewide weakness.
Texas Leading Index (last updated for Nov 2015) strongly flagged a coming US Recession alert. Texas leads the nation in...
Posted by Recession Journal on Monday, January 25, 2016
Some Texas Stats
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