Sector prospects from the Fed’s regional reportsLatest: October 2026 edition · released Oct 14, 2026
EconomyxAIBeige Book Sector Monitor
Federal Reserve district · DAL

Dallas

Expanded moderately; manufacturing picked up notably; price growth strong. (October 2026)

Overall read, every edition

−2.0−1.00+1.0+2.02000200420082012201620202024

By edition

EditionScoreOutlookIn brief
October 2026 +1.5 +0.5 Expanded moderately; manufacturing picked up notably; price growth strong.
August 2026 +1.5 +0.5 Expanded moderately; manufacturing, banking and energy picked up.
July 2026 +1.5 +0.5 Rose moderately; banking, energy and services picked up.
May 2026 +1.0 0.0 Activity rose modestly; outlooks tepid amid Middle East uncertainty
April 2026 +1.0 −1.0 Rose slightly; outlooks worsened on fuel and uncertainty.
February 2026 +2.0 0.0 Expanded moderately; manufacturing vigorously rebounded.
January 2026 0.0 −0.5 Held steady; banking a bright spot, outlooks cautious.
November 2025 −1.0 −1.0 Weakened slightly; outlooks generally worsened.
October 2025 0.0 −1.0 Flat; outlooks deteriorated.
August 2025 +1.0 +0.5 Expanded modestly; manufacturing rebounded, outlooks improved.
July 2025 +1.0 −1.0 Up slightly; retail declined notably, outlooks pessimistic.
May 2025 0.0 −1.0 Little changed; outlooks deteriorated on tariff uncertainty.
April 2025 +1.0 −1.0 Growth slowed to slight; outlooks deteriorated.
February 2025 +2.0 0.0 Expanded moderately; lending up notably, sharply higher uncertainty.
January 2025 +2.0 +1.0 Expanded moderately; manufacturing resumed growth, loans surged.
November 2024 +1.0 +1.0 Moderate growth.
October 2024 +0.5 0.0 Expanded modestly.
August 2024 +0.5 0.0 Expanded modestly.
July 2024 +0.5 0.0 Rose slightly.
May 2024 0.0 −0.5 Flat to up slightly.
April 2024 +0.5 −0.5 Expanded modestly.
February 2024 +0.5 +0.5 Expanded modestly.
January 2024 +0.5 −0.5 Expanded at a modest pace.
November 2023 +0.5 −1.0 Expanded at a slower pace.
October 2023 +0.5 −0.5 Modest expansion continued.
August 2023 +0.5 0.0 Modest expansion continued.
June 2023 +0.5 −1.0 Modest expansion continued.
May 2023 +0.5 −1.0 Modest growth continued.
April 2023 +0.5 −1.0 Modest growth continued.
February 2023 +0.5 −1.0 Modest growth continued.
January 2023 +0.5 −1.0 Modest growth continued.
November 2022 +0.5 −0.5 Modest growth.
October 2022 +0.5 −1.0 Modest growth continued.
August 2022 +0.5 −0.5 Continued at a modest pace.
July 2022 +0.5 −1.0 Slowed to a modest pace.
May 2022 +1.0 −0.5 Slowed to a moderate pace.
April 2022 +1.5 0.0 Expanded at a faster clip.
February 2022 +0.5 +0.5 Expansion moderated.
January 2022 +1.5 +1.0 Expanded at a robust pace.
November 2021 +1.5 +1.0 Robust expansion continued.
October 2021 +1.5 +1.0 Expanded at a solid rate.
August 2021 +1.5 +0.5 Solid expansion continued.
July 2021 +1.5 +0.5 Expanded at a solid rate.
May 2021 +1.5 +1.0 Expanded at a solid pace.
April 2021 +1.5 +1.0 Accelerated to a solid pace.
February 2021 +1.0 +0.5 Expanded at a moderate pace.
January 2021 +1.0 +1.0 Moderate growth; energy strengthened.
November 2020 +0.5 +0.5 Expanded at a modest pace.
October 2020 +1.0 +0.5 Growth resumed.
August 2020 0.0 0.0 COVID-19 disrupted budding recovery.
July 2020 +1.0 0.0 Regained its footing.
May 2020 −1.5 −1.5 Contracted sharply in April.
April 2020 −2.0 −2.0 Sudden and broad-based weakening.
February 2020 +1.0 +0.5 Expanded moderately.
January 2020 +1.5 +1.0 Expanded solidly.
November 2019 +1.0 +0.5 Moderate expansion continued.
October 2019 +1.0 +0.5 Moderate expansion continued.
August 2019 +1.0 +0.5 Moderate expansion continued.
July 2019 +1.0 0.0 Moderate expansion continued.
May 2019 +1.0 0.0 Moderate expansion; signs of deceleration.
April 2019 +1.0 +0.5 Moderate expansion continued.
February 2019 +1.0 +1.0 Moderate growth; outlook more optimistic.
January 2019 +0.5 −0.5 Slowed to a more modest pace.
November 2018 +1.0 0.0 Slowed to a moderate pace.
October 2018 +1.5 +1.0 Solid expansion continued.
August 2018 +1.5 +0.5 Solid expansion continued.
July 2018 +1.5 +0.5 Continued at a solid pace.
May 2018 +1.5 +0.5 Expanded at a solid pace.
April 2018 +1.0 +0.5 Expanded at a moderate pace.
February 2018 +1.0 +0.5 Expanded at a moderate pace.
January 2018 +2.0 +1.0 Expanded at a robust pace.
November 2017 +1.0 +1.0 Expanded at a moderate pace.
October 2017 +1.0 +0.5 Expanded at a moderate pace.
August 2017 +1.0 +0.5 Expanded at a moderate pace.
June 2017 +1.0 +0.5 Expanded at a moderate pace.
May 2017 +1.0 +0.5 Expanded at a moderate pace.
April 2017 +1.0 +1.0 Expanded at a moderate pace.
February 2017 +1.0 +1.0 Expanded moderately.
January 2017 +1.0 +1.0 Grew moderately.
November 2016 +0.5 +0.5 Expanded modestly.
October 2016 +1.0 +0.5 Expanded moderately.
August 2016 +0.2 +0.5 Expanded slightly.
July 2016 +0.2 +0.5 Expanded slightly.
May 2016 +0.2 +0.5 Rose marginally.
April 2016 0.0 +0.5 Flat to up slightly.
February 2016 0.0 0.0 Flat.
January 2016 +0.5 +0.5 Grew at a modest pace.
November 2015 +0.5 +0.5 Grew at a modest pace.
October 2015 +1.0 +0.5 Grew at a moderate pace.
August 2015 +0.5 0.0 Grew at a modest pace.
July 2015 +1.0 +0.5 Grew at a moderate pace.
May 2015 +0.5 0.0 Growth slowed slightly.
April 2015 +1.0 +0.5 Grew at a moderate pace.
February 2015 +0.5 0.0 Roughly the same pace.
January 2015 +0.5 −0.5 Slightly slower pace.
November 2014 +1.5 +0.5 Expanded at a solid pace.
October 2014 +1.0 +1.0 Grew at a moderate pace.
August 2014 +1.0 +1.0 Grew at a moderate pace.
July 2014 +1.0 +1.0 Grew at a moderate pace.
May 2014 +1.0 +0.5 Moderate pace.
April 2014 +1.0 +1.0 Moderate pace.
February 2014 +1.0 +1.0 Grew at a moderate pace.
January 2014 +1.0 +0.5 Expanded at a moderate pace.
November 2013 +1.0 +0.5 Expanded at a moderate pace.
October 2013 +1.0 +0.5 Expanded at a moderate pace.
August 2013 +1.0 +0.5 Expanded at a moderate pace.
July 2013 +1.0 0.0 Slightly stronger pace.
May 2013 +1.5 +0.5 Expanded at a stronger pace.
April 2013 +1.0 +0.5 Slightly faster pace.
February 2013 +1.0 +0.5 Expanded at a moderate pace.
January 2013 +0.5 0.0 Expanded at a modest pace.
November 2012 +0.5 0.0 Expanded at a modest pace.
September 2012 +1.0 0.0 Expanded at a moderate pace.
August 2012 +1.0 0.0 Grew at a moderate pace.
July 2012 +1.0 0.0 Grew at a moderate pace.
May 2012 +1.0 +0.5 Expanded at a moderate pace.
April 2012 +1.0 0.0 Grew at a moderate pace.
February 2012 +1.0 +1.0 Continued to grow at a moderate pace.
December 2011 +1.0 +0.5 Grew at a moderate pace.
November 2011 +0.5 0.0 Expanded modestly.
October 2011 +0.5 −0.5 Expanded at a modest pace.
August 2011 +0.5 −0.5 Grew at a modest pace.
July 2011 +1.0 0.0 Expanded at a moderate pace.
May 2011 +1.0 +0.5 Expanded at an accelerated pace.
April 2011 +1.0 +0.5 Grew at a moderate pace.
February 2011 +1.0 +0.5 Expanded at a moderate pace.
January 2011 +1.0 +1.0 Expanded moderately.
November 2010 +0.5 +0.5 Expanded at a modest pace.
October 2010 +0.5 +0.5 Expanded at a more subdued pace.
August 2010 +0.5 0.0 Expanded modestly; energy strong.
July 2010 +1.0 +0.5 Expanded at a moderate pace.
May 2010 +1.0 +0.5 Continued to improve.
April 2010 +1.0 +1.0 Firmed up further.
February 2010 +1.0 +1.0 Improved further; outlooks more upbeat.
January 2010 +1.0 +0.5 Continued to firm.
November 2009 +1.0 +0.5 Firmed; outlooks more positive.
October 2009 0.0 +0.5 Little changed; scattered improvement.
August 2009 +0.5 +0.5 Firmed somewhat.
July 2009 −0.5 0.0 Mostly steady at subdued levels.
June 2009 −0.5 0.0 Bouncing along the bottom.
April 2009 −1.0 −0.5 Weak; signs of stabilizing at low levels.
February 2009 −1.5 −1.5 Weakened further; 'unprecedented' rig count decline.
January 2009 −1.5 −1.5 Continued to weaken; improvement not seen until late 2009.
November 2008 −2.0 −1.5 Broad-based weakening; manufacturing sharp reduction.
October 2008 −1.5 −1.5 Slowed markedly; hurricane disruptions.
August 2008 +0.5 – Expanded modestly; slightly softer.
July 2008 +0.5 – Steady, moderate growth; retail outlook grim.
June 2008 0.0 – Softening outside energy; rigs at 20-year high.
April 2008 0.0 – Expansion softened further; Texas outperforming the nation.
February 2008 0.0 −1.0 Continued to soften; preparing for a possible downturn.
January 2008 0.0 0.0 Continued to decelerate.
November 2007 0.0 0.0 Decelerated further.
October 2007 0.0 0.0 Decelerated.
August 2007 0.0 0.0 Continued to decelerate.
July 2007 +0.5 +0.5 Moderately strong but decelerated slightly.
June 2007 +1.0 +1.0 Expanded at a moderately strong pace.
April 2007 +1.0 +1.0 Expanded at a moderately strong pace.
February 2007 0.0 0.0 Continued to decelerate.
January 2007 0.0 0.0 Continued to decelerate.
November 2006 0.0 0.0 Growth decelerated.
October 2006 +0.5 +0.5 Continued to cool from high levels.
August 2006 +1.0 +1.0 Grew quite strongly.
July 2006 +1.0 +1.0 Strong pace with signs of cooling.
June 2006 +1.0 +1.0 Expanded quite strongly.
April 2006 +1.0 +1.0 Continued to strengthen.
March 2006 +1.0 +1.0 Strengthened.
January 2006 +1.0 +1.0 Activity accelerated.
November 2005 +1.0 +1.0 Activity accelerated.
October 2005 +0.5 +0.5 Continued to expand despite hurricanes.
August 2005 +0.5 +0.5 Moderate expansion; energy very strong.
July 2005 +1.5 +1.5 Strengthened; energy very strong.
June 2005 +1.0 +1.0 Continued to expand.
April 2005 +1.0 +0.5 Expanded moderately.
February 2005 +1.5 +1.5 Showed signs of accelerating.
January 2005 +1.0 +0.5 Expanded at a moderate pace.
November 2004 +1.0 +1.0 Accelerated slightly.
October 2004 +1.0 +1.0 Picked up slightly.
September 2004 +0.5 +0.5 Continued to expand.
July 2004 +1.0 +0.5 Continued to expand.
June 2004 +1.0 +1.0 Continued to expand.
April 2004 +1.5 +1.0 Continued to accelerate.
February 2004 +1.5 +1.0 Accelerating.
January 2004 +0.5 +1.0 Expanded modestly.
November 2003 +0.5 +0.5 Continued to improve slowly.
October 2003 +0.5 +0.5 Slowly improving.
July 2003 +0.5 +0.5 Signs of improving.
June 2003 +0.5 +0.5 Signs of improving.
April 2003 0.0 0.0 Mixed.
February 2003 −0.5 −0.5 Signs of inertia.
January 2003 −1.0 −0.5 Remained anemic.
November 2002 −1.0 0.0 Activity unchanged or down slightly.
October 2002 −1.0 −1.0 Activity showed signs of contracting.
September 2002 0.0 −0.5 Economic growth appears to have stalled.
July 2002 0.0 −0.5 Activity grew very slowly; caution percolating.
June 2002 0.0 −0.5 Signs of slow improvement, but growth disappointing.
April 2002 −1.0 −0.5 Remained weak but showed signs of improving in April.
February 2002 −1.0 −0.5 Activity remained weak.
January 2002 −1.0 +0.5 Activity continued to decline, but outlook more upbeat.
November 2001 −1.0 −0.5 Activity slowed somewhat; uncertainty discouraging spending.
October 2001 −1.0 −1.0 Weakened further; manufacturing decline accelerated, energy weaker.
September 2001 −1.0 −0.5 Continued to weaken.
July 2001 −1.0 −0.5 Weakened further.
June 2001 0.0 0.0 Continued to decelerate.
April 2001 0.0 −0.5 Decelerated in March, early April.
February 2001 0.0 0.0 Decelerated slightly.
January 2001 0.0 +0.5 Continued to decelerate.
November 2000 0.0 +0.5 Continued to cool.
October 2000 +1.0 −0.5 High level, slower growth.
September 2000 +1.0 – Remained fairly strong.
July 2000 0.0 – Signs of cooling.
June 2000 +1.0 0.0 Overall activity increased in May.
April 2000 +2.0 0.0 Continued to expand at a brisk pace.
February 2000 +2.0 0.0 Continued to expand at a brisk pace.
January 2000 +1.0 – Activity remained strong.
November 1999 +1.0 +0.5 Expanded at a slightly faster pace.
October 1999 +1.0 +0.5 Expanded at about the same pace.
September 1999 +1.0 +0.5 Expanded at a slightly faster rate.
August 1999 +1.0 0.0 Activity accelerated slightly.
June 1999 +1.0 +0.5 Expanded at roughly the same pace.
April 1999 +1.0 +1.0 Continued to expand with more confidence.
March 1999 +1.0 – Continued to expand.
January 1999 +1.0 0.0 Expanded at roughly the same pace.
November 1998 0.0 −0.5 Growth continued to gradually cool.
October 1998 0.0 −0.5 Economic growth continued to slow.
September 1998 0.0 −1.0 Activity decelerated as manufacturing declined.
July 1998 +1.0 +0.5 Expanded at about the same modest pace.
June 1998 +1.0 0.0 Slowed slightly to a modest rate of growth.
April 1998 +1.0 +0.5 Grew at a slightly slower pace.
March 1998 +1.0 +0.5 Same pace or a little slower.
January 1998 +1.0 0.0 Grew at a slightly slower pace.
November 1997 +1.0 +0.5 Expanded at a slightly slower rate.
October 1997 0.0 +0.5 Roughly the same level as August.
September 1997 +1.0 +1.0 Expanded; contacts optimistic for the year.
July 1997 +1.0 +0.5 Activity picked up; energy still booming.
June 1997 +1.0 0.0 Expanding at a modest pace.
April 1997 +1.0 +0.5 Expanding at a moderate pace.
March 1997 +1.0 +0.5 Expanding at a modest pace.
January 1997 +1.0 +0.5 Expanding at a slightly stronger pace.