Texas retail, hospitality sector shows signs of life with modest growth in December
The service sector accounts for nearly 70% of the state’s economy and employs about 8.6 million workers.
Shoppers stroll along the storefronts at the Legacy West retail center in Plano on Dec. 26.(Jason Janik / Special Contributor)
By Tribune News Service
The Texas service sector which has been battered by the coronavirus pandemic since March grew modestly in December, according to the latest report from the Federal Reserve of Dallas.
The Dallas Fed’s Texas Service Outlook Survey takes the pulse of executives in the service industry, which includes retail, hospitality, professional and technical services and other businesses. The service sector accounts for nearly 70% of the state’s economy and employs about 8.6 million workers, according to the Dallas Fed.
Texas service sector shows signs of life in December Lori Hawkins, Austin American-Statesman
The Texas service sector which has been battered by the coronavirus pandemic since March grew modestly in December, according to the latest report from the Federal Reserve of Dallas.
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The Dallas Fed’s Texas Service Outlook Survey takes the pulse of executives in the service industry, which includes retail, hospitality, professional and technical services and other businesses. The service sector accounts for nearly 70% of the state’s economy and employs about 8.6 million workers, according to the Dallas Fed.
“Texas service sector activity rebounded in December, with revenue and labor market indicators pointing to growth following weakness in November,” Christopher Slijk, Dallas Fed associate economist, said in a written statement. “Firms were mixed in their assessment of current business conditions, but expectations of future activity pic