The Houston Business-Cycle Index accelerated to an annual growth rate of 5.3 percent in June from a revised 2.6 percent in May, signaling rising economic activity. From December to June, the index advanced at an annualized 5.8 percent. Energy-related activities continue supporting the region’s performance, but construction and other industries have gained momentum.
Total Houston payroll employment grew at a seasonally adjusted, annual rate of 2.1 percent in June. Growth rates varied, with leisure and hospitality up an annualized 16.7 percent and government jobs advancing an annualized 13 percent, while other services declined 10 percent. Professional and business services also contracted slightly.
Read more...Houston Economic Update August 2013 via Dallas Fed
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