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The Houston Purchasing Managers Index (PMI), a short-term leading indicator for regional production, registered 51.6 in August, slightly up from 51.4 in July. 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 37 consecutive months and manufacturing activity for 24 consecutive months.
The Houston PMI is derived from monthly surveys of local purchasing managers representing various industries. The three underlying components of the PMI with a strong correlation to economic activity, sales/new orders, employment, and lead times, all showed expansion in August. On an industry-specific basis, health care; transportation and utilities; and engineering, procurement and construction reported expansion.
Patrick Jankowski, CERP
Senior Vice President, Research
Houston's PMI registered 51.6 in August '19