Houston Economic Update January 2013 via FRB of Dallas

The Houston Business-Cycle Index decelerated to a 4.4 percent growth rate in November, implying a slowing expansion 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 area industry fundamentals are firmer than they were in much of 2012.

2012 is shaping up to be a banner year for Houston employment growth. Although it slowed in November, monthly employment growth averaged 3.7 percent over the year. Construction, health care, and leisure and hospitality continued to lead growth in November.

Read more...Houston Economic Update January 2013 via FRB of Dallas