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Monthly Update: Purchasing Managers Index

June '24, Latest Data
Published on 7/16/24

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Estimated Read Time: 1 minute

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. 

  • Sales/New Orders rose from 50.1 to 55.1. 
  • Lead Times rose from 50.3 to 50.6.
  • Employment slipped from 52.4 to 50.2

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

 

Economy Key Economic Indicators
51.7

Houston's PMI registered 51.7 in June '24

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