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The Houston Purchasing Managers Index (PMI), a short-term leading indicator for regional production, registered 58.7 in April, down from 64.0 in March. 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 33 consecutive months and manufacturing activity for 20 consecutive months. The near-term forecast continues to point to higher manufacturing and overall economic growth than anticipated earlier in the year.
The Houston PMI is derived from monthly surveys of local purchasing managers representing various industries. In April, oil and gas, engineering and construction, non-durable goods manufacturing, mid-stream operations, wholesale trade, professional services, and health care sectors all reported strong expansion.
Patrick Jankowski, CERP
Senior Vice President, Research
Houston's PMI registered 58.7 in April '19