COVID-19 is increasing in Houston, but it is not clear that this has materially affected economic activity in the region yet. However, initial estimates for June payroll data showed a surprising slowdown in the pace of recovery, particularly for goods-producing sectors like oil and gas, which is seeing increased drilling activity and favorable commodity prices. Home sales and prices were surging in June due to strong demand. Overall, the outlook remains positive, but potential risks near term from the pandemic are increasing rapidly.
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Houston Economic Indicators August 2021 via Dallas Fed
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