Houston Economic Update February 2013 via FRB of Dallas

The Houston Business-Cycle index rose nearly 4 percent in December, implying faster economic growth in the region. Energy-related activities, construction and international trade continue to propel growth. Regulatory uncertainty, the U.S. fiscal situation and stresses in the global economy cloud the horizon, but fundamentals in many area industries were firmer than in much of 2012.

Houston payroll employment grew 1.5 percent in December and 3.6 percent through 2012. Only 1997, 1998, 2005 and 2006 had greater annual growth rates the past 20 years. Construction, manufacturing, and professional and business services led employment growth in December.

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