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Houston’s economy continued to expand in April, but not as rapidly as in March, according to the most recent Houston Purchasing Managers Index (PMI) prepared by the Institute for Supply Management-Houston. Manufacturing contracted, but more slowly. Non-manufacturing activity expanded, but not as fast.
The overall PMI slipped 0.2 points from 50.5 in March to 50.3 in April. Readings above 50 indicate overall expansion in Houston’s economy, below 50, contraction. Houston’s Manufacturing PMI rose from 45.9 to 49.2. The Non-manufacturing PMI slipped from 51.4 to 50.5.
Regarding the two major subcomponents:
Two of three indicators with a strong positive correlation with economic activity, Sales/New Orders and Lead Times saw expansion while Employment signaled contraction.
Two of the three indicators with a strong positive correlation with economic activity, Lead Times and Employment, saw contraction while Sales/New Orders signaled expansion.
The finished goods inventory index, the underlying indicator that has the strongest inverse correlation with economic activity, slipped to 48.8, suggesting expansion.
On an industry-specific basis, business and technical services, utilities, health care, and nondurable goods manufacturing reported strong expansion. Oil and gas and durable goods manufacturing showed relative weakness.
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 在这里.
Prepared by Greater Houston Partnership Research
Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@jiahecun.net
Leta Wauson
Research Director
Greater Houston Partnership
lwauson@jiahecun.net
Houston's PMI registered 50.3 in April '24
Re视图 the latest data on jobs in the Houston region.
Re视图 the latest data on inflation in the Houston area.
Re视图 the latest information on home sales in the Houston region.
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