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Houston’s economic growth accelerated in February, according to the latest Houston Purchasing Managers Index (PMI) from the Institute for Supply Management–Houston. The headline PMI, which gauges overall economic activity based on a survey of supply chain executives, increased to 52.4 in February from 50.2 in January, extending the region’s expansion streak to 69 consecutive months. Manufacturing and non-manufacturing both showed signs of growth with respective PMIs of 51.6 and 52.6.
All three PMI components most closely linked to Houston’s growth signaled economic strength in February:
- Sales/New Orders increased from 52.6 in January to 56.6, indicating faster growth.
- Employment moved from contraction at 46.7 in January to expansion at 50.9 in February.
- Lead Times edged down from 54.5 in January to 50.1, suggesting growth continues but has slowed to a near-neutral pace.
On an industry-specific basis:
- Oil and gas, construction, professional services, and durable goods manufacturing reported strong expansion.
- Trade, transportation, and warehousing, and non-durable goods manufacturing reported modest expansion.
- No major sector reported contraction.
The PMI is published monthly by the Institute for Supply Management – Houston and is based on a survey of supply chain executives in the region. For additional information, click here.
Prepared by Greater Houston Partnership Research
Colin Baker
Manager of Economic Research
Greater Houston Partnership
[email protected]
Clara Richardson
Analyst, Research
Greater Houston Partnership
[email protected]