02 Oct BRIEF: Texas Retailers report slower sales growth
Texas retailers saw their sales growth slow down this month, according to the Federal Reserve Bank of Dallas.
In its most recent retail outlook survey, the Dallas Fed found 35 percent of retailers reported increasing sales in September, down 1 percentage point from the month prior. However, 19 percent of survey respondents said their sales decreased, up from 15 percent in August.
During the next six months, which includes the critical holiday sales period, only 37 percent of retailers told the Dallas Fed that they expect their company outlook to improve, a slip from 41 percent in August.
Less than a third of survey respondents plan to increase their payrolls in the future, according to the survey results.
The Dallas Fed collected its data between Sept. 17 and 25 from 223 business executives in Texas. It will release its next report on Oct. 29.