Texas executives have a gloomy outlook for 2023, even as business remains stable
Dan Allford, president, ARC Specialties, an automated manufacturing systems facility that builds robots for a variety of manufacturing needs, including robots for offshore oil and gas drilling. New surveys from the Federal Reserve Bank of Dallas find that executives in the state's manufacturing, service and retail sectors are girding for a slowdown next year.
"Business activity has been hurt by inflation and expectations of a recession," one administrative and support services sector executive responded."Clients are postponing all but strictly necessary projects until there is more clarity about the course of the economy."Executives pessimistic as Dallas Fed reports Texas slowdown
“Growth in input prices and wages moderated in December, while selling prices growth picked up slightly,” Jesus Cañas, a senior business economist at the Dallas Fed, said in a statement accompanying the report. “Perceptions of broader business conditions worsened further." "Our largest German customer has put new orders on hold because of the current business outlook in Europe and the effects of the Ukraine/Russia war on energy costs in Europe," a computer and electronics manufacturing executive responded.Service, retail and manufacturing executives surveyed for the December report were also asked about wages, prices and outlook concerns for 2023.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trim Pickings: 2023 Nissan Rogue vs. 2023 Toyota RAV4The base models of the Nissan Rogue S and Toyota RAV4 LE are priced within $255 of each other, making for very close competition. Both of these models are well equipped with feature highlights that include LED headlights, tinted rear windows, cloth upholstery, satellite radio, and Apple CarPlay and Android Auto compatibility. On the safety front, both SUVs include a forward collision warning with automatic emergency braking system and automatic high-beam headlights.
Read more »
What role will immigrants play in filling Texas’ open jobs In 2023?🔮 Immigrants founded a quarter of venture-backed startups in Dallas-Fort Worth between 2016 and 2020, research shows. How will they impact 2023? 2023biz 2023forecast 2023DMNforecast
Read more »
Texas-Related TV Shows To Put on Your Radar in 2023While the film box office in 2022 was dominated by Top Gun: Maverick and Avatar: The Way of Water, prestige television programming offered much more diversity in terms of genre options.
Read more »
Texas A&M, Realtor.com forecast cooling in residential, commercial real estate for 2023“A lot of times, what’s good for buyers is bad for sellers, but right now ... the way most people are going to interpret this is bad for everybody.”
Read more »
Is Texas immune if the rest of the nation goes into a recession in 2023?🔮 Texas, one of the big winners of the pandemic economy, doesn’t appear to have special immunity from broader economic threats as 2023 begins. 2023biz 2023forecast 2023DMNforecast
Read more »