Houston Economic Indicators May 2015 via Dallas Fed

The Houston Business Cycle Index has decelerated in five of the past six months. In March, the index slowed to a growth rate 0.3 percent after rising 2.6 percent in February. Employment growth flirted with zero in March, and measures of construction and real estate also weakened sharply. The value of goods moving through the region’s ports suffered under the weight of a strong dollar and falling energy prices. On balance, the Houston outlook continues to erode in the near term.

Annualized employment growth over the first three months of 2015 was 0.3 percent, the weakest three month change since January 2010. Declines in manufacturing, construction and mining, and professional and business services have largely been counterbalanced by growth in leisure and hospitality and education and health. While information services grew aggressively in early 2015, it accounts for only 1.1 percent of total employment.

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