News Column

Texas Index Dipped Again in April

June 20, 2013

Comerica Bank's Texas Economic Activity Index fell a slight 0.2 percentage points in April to 103.7 , the monthly index's fourth consecutive decline.

Robert Dye, the Dallas-based bank's chief economist, said the continued sluggishness was consistent with expected cooler economic growth for the United States for the year's second and third quarters.

"Index components suggest that the headline number is leveling out," he said.

The April reading was 45 percent above the index's cyclical low of 71.5, reached in July 2009

The seasonally adjusted index comprises seven variables: nonfarm payrolls, exports, sales tax revenue, hotel occupancy rates, continuing claims for unemployment insurance, building permits and Baker Hughes rotary rig counts.

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