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Dallas Federal Reserve: texas business climate is at recessionary levels
Posted on 1/25/16 at 5:50 pm
Posted on 1/25/16 at 5:50 pm
If low oil prices are unambiguously good for the economy, why is general business conditions, which means all industries, in texas plummeting?
Analyst Peter Boockvar said in a Monday note that his team had been expecting a negative print out of Dallas, and "we got that and then some."
LINK
Every single industry in texas is reporting a decline right now, Every. single. one.
You're next, Dakota and Louisiana. You're next.
quote:
The corporate outlook in Texas is at its lowest since the state was in recession, the Dallas Federal Reserve said Monday.
The general business activity and company outlook indexes came in at their lowest readings since April 2009, the report said — a time period that saw Texas in recession. The Dallas Fed's general business activity index fell 13 points to -34.6, and its company outlook index slipped to -19.5.
The report also found that six-month expectations on "prices received for finished goods" went negative in January, suggesting the expectation of a deflationary environment.
Analyst Peter Boockvar said in a Monday note that his team had been expecting a negative print out of Dallas, and "we got that and then some."
quote:
"Bottom line, the data speaks for itself and reflects the major recession the energy patch is in and the ripple effect on other industries," he wrote.
Within certain manufacturing sectors, the bank's report saw frequent reference to oil and gas prices. For instance, survey respondents from the fabricated metal product manufacturers said they expected the "continued depression in the oil and gas industry to negatively impact our customer base and result in significant demand reduction."
LINK
Every single industry in texas is reporting a decline right now, Every. single. one.
You're next, Dakota and Louisiana. You're next.
This post was edited on 1/25/16 at 5:52 pm
10
Posted on 1/25/16 at 5:51 pm to HailHailtoMichigan!
No surprise here. Like I've said, this stuff isn't happening in a vacuum.
Posted on 1/25/16 at 5:53 pm to Oates Mustache
I'm pretty sure we have you down as, "I told y'all all how fricked you are."
Posted on 1/25/16 at 5:55 pm to BRgetthenet
No baw, WE all are, or Pocket isn't all about the deuces.
Posted on 1/25/16 at 5:56 pm to HailHailtoMichigan!
Please tell me what you would like me to do to make oil prices go up.
Posted on 1/25/16 at 6:00 pm to HailHailtoMichigan!
You can't read worth a shite.
LINK
LINK
LINK
LINK
quote:
“Despite a sharp fall in oil prices in November and December, the Texas economy continued to add jobs at a modest pace in December,” said Keith R. Phillips, Dallas Fed assistant vice president and senior economist. “Overall, 2015 was testament to the diversity of the state’s economy.”
While job growth slowed from a strong pace in 2014, Texas job growth was only 0.5 percent below the nation (1.4 percent vs. 1.9 percent) and better than other energy-producing states, many of which experienced job declines.
Posted on 1/25/16 at 6:00 pm to I Love Bama
He doesn't read good!
He sucks at reading!
He sucks at reading!
Posted on 1/25/16 at 6:02 pm to HailHailtoMichigan!
Lovin my cheap gas. Not sorry their faux economy is failing.
Posted on 1/25/16 at 6:02 pm to BRgetthenet
He can't reed are right!
Posted on 1/25/16 at 6:08 pm to I Love Bama
quote:
You can't read worth a shite.
Considering there was NOTHING in the article I linked that I comprehended wrongly your assertion makes no sense. And you can't use separate articles to prove that.
Back up your assertion, scumbag, Read the CNBC article I linked and tell me where I am wrong. You fricking bitch.
This post was edited on 1/25/16 at 6:09 pm
Posted on 1/25/16 at 6:09 pm to HailHailtoMichigan!
quote:
Every single industry in texas is reporting a decline right now, Every. single. one.
Your link doesn't support that. At. All.
And even if Texas were in formal recession, it still doesn't follow that oil isn't unambiguously good for the economy overall, especially in the long run. Compared to the "economy" in general, Texas is idiosyncratically driven by oil & gas/ related support industries.
This post was edited on 1/25/16 at 6:11 pm
Posted on 1/25/16 at 6:11 pm to HailHailtoMichigan!
You're. not. normal.
This post was edited on 1/25/16 at 6:11 pm
Posted on 1/25/16 at 6:12 pm to HailHailtoMichigan!
quote:
Every single industry in texas is reporting a decline right now, Every. single. one.
quote:
Read the CNBC article I linked and tell me where I am wrong
Posted on 1/25/16 at 6:13 pm to HailHailtoMichigan!
Posted on 1/25/16 at 6:14 pm to SlowFlowPro
That podcast is fantastic.
Posted on 1/25/16 at 6:15 pm to HailHailtoMichigan!
quote:Why are you only citing data to an "oil" state? It seems like there may be some Confirmation Bias present here.
If low oil prices are unambiguously good for the economy, why is general business conditions, which means all industries, in texas plummeting?
This post was edited on 1/25/16 at 6:56 pm
Posted on 1/25/16 at 6:27 pm to HailHailtoMichigan!
quote:
If low oil prices are unambiguously good for the economy, why is general business conditions, which means all industries, in texas plummeting?
HAILHAIL SENTANCE RITE GUD
Posted on 1/25/16 at 6:35 pm to HailHailtoMichigan!
So an economy that is heavily dependent on energy production has negative views when the price of said commodity is at record lows? Color me shocked.
Yes, O&G firms will have a negative outlook. Yes, raw materials providers that service O&G will feel the pinch. Yes, OEMs that make products for O&G will feel the pinch. Yes, service companies that service O&G and raw materials OEMs will be challenged. However, there are still tons and tons of companies that benefit from lower gas prices.
Yes, O&G firms will have a negative outlook. Yes, raw materials providers that service O&G will feel the pinch. Yes, OEMs that make products for O&G will feel the pinch. Yes, service companies that service O&G and raw materials OEMs will be challenged. However, there are still tons and tons of companies that benefit from lower gas prices.
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