Houston Economic Update March 2013 via FRB of Dallas

The Houston Business-Cycle index jumped up from a revised growth rate of 5.4 percent in December to 9.5 percent in January. This implies a very robust acceleration in economic improvement in the region. Direct contributions of energy industries to growth have recently slowed somewhat, but indirectly, energy-related activity is spurring other area industries, sustaining activity. While some stresses from the global economy have dissipated, continued fiscal and regulatory uncertainty clouds the horizon. Overall, Houston area fundamentals remain healthy.

Houston payroll employment grew 5.8 percent in January and 3.2 percent over the last three months. Trade, transportation and utilities; financial activities; and educational and health services were the main drivers of that growth. Information industry jobs also spiked up, but represent a small portion of employment.

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