After its sharpest contraction since 2009, the Houston Business Cycle Index returned to positive growth in May. The 2.5 percent annualized growth was the strongest reading
of the year. Growth in the index was mostly due to a strong improvement in job growth in May. Oil and gas production industries continue to be a drag on the region, but
refining, petrochemicals and service industries are managing to offset oil-producer woes. On balance, the Houston region outlook remains weak.
Read more...Houston Economic Indicators July 2015 via Dallas Fed
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