The Houston Business-Cycle Index advanced 7.4 percent in March after rising a revised 6.3 percent in February on an annualized basis. This was driven by a surprisingly strong surge in employment. Housing and construction show ongoing strength, as does energy, but total trade growth in the region continues to soften. Overall, the outlook for Houston remains healthy.
March employment growth was a vigorous 4.7 percent overall. The large trade, transportation and utilities industry grew the fastest, with financial activities close behind. Manufacturing and leisure and hospitality contracted.
Read more...Houston Economic Update May 2014 via Dallas Fed
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