Houston Economic Update June 2013 via FRB of Dallas

The Houston Business-Cycle Index jumped up from a revised March growth rate of 2 percent to 8.9 percent in April. This implies a sudden acceleration in the pace of economic expansion in the region and may underscore a reversal of the slight decelerating trend that dominated the latter half of 2012. Directly and indirectly, energy-related activity continues to spur other area industries. Some stresses from the global economy have dissipated, but continued fiscal and regulatory uncertainties remain the largest clouds on the horizon. Overall, Houston-area fundamentals remain healthy.

Houston payroll employment grew at an annualized pace of 5.2 percent in April and 4.5 percent over the past three months. Construction, leisure and hospitality, and financial activities were the fastest-growing sectors. Manufacturing, which has added 900 jobs year to date, contracted 3.4 percent from March to April.

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