Texas economic activity strengthens with strong power demand, prices

摘要

Texas economic activity accelerated in July, judging from Federal Reserve Bank of Dallas reports released July 26-27, which has been reflected in strong power demand despite higher wholesale power prices. The Dallas Fed’s Texas Service Sector Outlook Survey, released July 27, shows a revenue index of 21.7%, up from June’s 16.7% and up sharply from a negative 7.2% in July 2020, when the novel coronavirus pandemic’s economic contraction continued to keep most retail outlets in lockdown or limited operation. The Dallas Fed’s Texas Manufacturing Outlook Survey, released July 26, shows a production index of 31%, up from June’s 29.4% and 17.6% in July 2020.