Pandemic-induced declines in economic activity for Houston slowed in May as the economy reopened, and some signs of recovery began. Leading and coincident indexes logged modest improvements, but Houston’s energy sector continued to shed jobs ahead of record-setting lows for drilling activity in the U.S. in June. Unfortunately, June also saw a return to sharp growth in COVID-19 hospitalizations. This increase has put a damper on the recovery as policy efforts to contain the virus and voluntary social distancing likely contributed to a reduction in area mobility and engagement.
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Houston Economic Indicators July 2020 via Dallas Fed
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