Houston Economic Update April 2014 via Dallas Fed

The Houston Business-Cycle Index accelerated slightly to a 5.2 percent growth rate in February from an already robust 5.1 percent rate in January. The oil and gas industry posted strong job gains, and industry fundamentals remain healthy. Refining and plastics continue to perform well, and overall labor market conditions remain positive. Taken together, these indicators continue to imply healthy economic conditions in Houston.

Houston payroll employment grew at an annualized rate of 3.3 percent from January to February. Gains were particularly strong in the construction and mining, and financial activities industries, with the latter ending a six-month streak of consecutive losses. Health care drove the education and health category down in February, though manufacturing and trade, transportation and utilities also registered losses. Over the three months ending in February, employment grew at an annualized rate of 3 percent.

Read more...Houston Economic Update April 2014 via Dallas Fed