Texas retail sales index surges in September on Harvey cleanup, Dallas Fed saysby Joshua Fechter
Texas retail sales activity surged in September as companies began the long road to recovery from Hurricane Harvey, the Federal Reserve Bank of Dallas said Tuesday.
The Dallas Fed’s retail sales index, which measures the industry’s overall health, jumped almost 16 points this month, continuing a two-month trend in increased sales, according to results of its service sector and retail outlook survey released Tuesday.
More than 49 percent of retailers polled by the Dallas Fed reported an increase in sales in September. About 35 percent said they saw no change in sales from August while more than 16 percent said receipts fell in September. The index measures revenue, hiring, prices and general business activity, according to the Dallas Fed.