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The Houston Purchasing Managers Index (PMI), a short-term leading indicator for regional production, registered 51.2 in June, down from 52.7 in May. Readings above 45 signal overall economic expansion in Houston over the next three to four months. Readings above 50 signal expansion in the manufacturing sector. The region’s PMI has signaled expansion in overall economic activity for 35 consecutive months and manufacturing activity for 22 consecutive months.
The Houston PMI is derived from monthly surveys of local purchasing managers representing various industries. The sales/new orders index, one of three underlying components of the PMI, showed contraction in June, while the other indicators – employment and lead times – showed expansion. Among industries, health care, transportation and utilities reported expansion, while non-durable goods manufacturing showed contraction.
Patrick Jankowski, CERP
Senior Vice President, Research
Houston's PMI registered 51.2 in June '19