Nearly half of Texas manufacturers and 35.3% of retailers blamed the heatwave for declines in revenue and production.
A report published in July estimated that the record breaking temperatures this summer could cost the Texas economy $9.5 billion in real gross product.conducted by the Federal Reserve Bank of Dallas.
And it's not just the service sector that's getting baked by the scorching weather, according to the Dallas Fed. Nearly half of the state's manufacturers and 35.3% of its retailers said higher-than-usual temperatures are the primary cause for declines in revenue or production. the ongoing heat wave is torching their bottom lines.
The Dallas Fed's survey aligns with a report published in July by Waco-based economist M. Ray Perryman, whose
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