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Houston’s economy expanded at a slightly faster pace in June than May, according to the most recent Houston Purchasing Managers Index (PMI) prepared by the Institute for Supply Management-Houston. Manufacturing, after contracting for three consecutive months, is expanding again. Non-manufacturing expanded at the same pace as the month before.
The overall PMI rose 0.6 points from 51.1 in May to 51.7 in June. Readings above 50 indicate overall expansion in Houston’s economy, below 50, contraction. The manufacturing PMI rose from 46.6 to 50.1. The non-manufacturing PMI held steady at 52.0.
The three indicators with the strongest positive correlation with economic expansion registered above 50 in June.
On an industry-specific basis, durable goods manufacturing, transportation and warehousing, and utilities reported strong expansion. Construction and professional services showed moderate growth. Oil and gas exploration and nondurables manufacturing reported moderate 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
Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@houston.org
Leta Wauson
Research Director
Greater Houston Partnership
lwauson@houston.org
Houston's PMI registered 51.7 in June '24
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