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The Houston Purchasing Managers Index (PMI), a short-term leading indicator for regional economic activity, registered 47.4 in December, up slightly from 46.9 in November. Readings below 50 signal contraction in the economy. The December reading marks the second consecutive month of below-50 readings for Houston.
The Houston PMI is derived from monthly surveys of local purchasing managers representing various industries. On an industry specific basis, transportation and utilities, and health care reported expansion. Oil and gas, durable goods manufacturing, wholesale trade, and professional services reported contraction.
Patrick Jankowski, CERP
Senior Vice President, Research
Houston's PMI registered 47.4 in December '19