Everything isn't necessarily bigger in Texas. Economic activity keeps getting worse in the Lone Star state.
The general business activity index out Monday from the Dallas Federal Reserve for January was -34.6, a six-year low and much worse than economists had expected.
The forecast for the monthly index was -14, following a December reading of -21.6 (revised from -20.1) that was also worse than expected.
An index reading below zero indicates contraction. The index was in negative territory for all of 2015, as low oil prices slammed companies that were exposed to the energy sector and a broad-based industrial slowdown took its toll.
The production index, which gauges manufacturing in the state, fell about 23 points, to -10.2 from 12.7.
The employment index also fell into negative territory, as a greater share of firms said they laid off more people than they hired. Wages, however, continued to increase. Expectations for business conditions in the future "weakened notably." The company outlook index was negative for the first time in seven years.
