The Texas economy may be set to bounce back after weathering the worst of the plunge in oil prices, according to a Federal Reserve Bank of Dallas economist.The pace of new jobs created in the state is outpacing the rest of the nation, increasing by 3.2 percent in July and 2.6 percent in August. New hiring is expected to increase by 2.3 percent in the back half of the year. Future outlook data on Texas manufacturing nearly quadrupled in September, in a sign production is expected to expand. It would be the first time in nearly two years that Texas manufacturing would be expanding on a consistent basis.
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