Houston Economic Indicators February 2015 via Dallas Fed

The Houston Business-Cycle Index decelerated to 4.3 percent growth in December after rising a revised 5.8 and 7.2 percent in November and October. While slower than the preceding five months, December job growth was still higher than Houston’s historical average. It takes about two to four months for swings in energy prices to affect Houston’s aggregate employment, so the response to lower oil prices probably has not been observed yet. However, the construction boom in refining and petrochemicals, a healthy real estate market and the growing U.S. economy will buttress the region against volatility in energy prices. Thus, the Houston outlook, while substantially softer, remains positive.

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