Category Archives: Market

Houston Economy at a Glance – July 2019

The July 2019 issue of the Houston Economy at a Glance courtesy of the Greater Houston Partnership has been released. Highlights of this month’s update include:

  • The U.S. Census Bureau posted population estimates for U.S. metros in April. Metro Houston has a population of nearly 7.0 million, a gain of just over 1.0 million since ’10. The Bureau released estimates for cities in May. The city of Houston has a population of 2.3 million, a net gain of 232,000 since ’10.
  • All nine counties in the Houston metro area gained population over the past eight years. Harris County added the most residents, followed by Fort Bend, Montgomery and Brazoria. Fort Bend grew the fastest, followed by Montgomery and Waller Counties. Among all U.S. counties, Fort Bend ranked as the nation’s 10th fastest growing from ’10 to ’18, Montgomery ranked 18th, Waller 41st, Chambers 52nd and Brazoria 83rd.
  • EMPLOYMENT – THE SHORT VIEW
    Metro Houston created 79,800 jobs, a 2.6 percent increase, in the 12 months ending May ’19, according to the Texas Workforce Commission (TWC). Employment now stands at 3,163,600, the highest point on record. At the current pace of growth, the region should top 3.2 million jobs by year’s end.
  • The recovery in the oil and gas industry began in earnest three years ago this summer. Crude prices began improving in March ’16, the rig count in May ’16, and bankruptcies plateaued in the second quarter of the year. But energy employment didn’t see an uptick until January ’17 and continues to struggle. From peak to trough, the sector cut nearly 93,000 jobs. While pipeline and liquid natural gas projects have helped engineering recoup all its losses, upstream and manufacturing have recovered only a fraction of theirs.
  • FOREIGN TRADE
    Houston’s exports have grown from $80.0 billion in ’08 to $120.7 billion in ’18, according to the U.S. International Trade Administration.1 No other metro area has experienced such growth over the period.
  • FOREIGN DIRECT INVESTMENT
    The Partnership has tracked 659 deals where foreign-owned companies announced plans to establish or expand operations in Houston. The value of the investments was made public for only 315 of these deals, but the cumulative amount disclosed is significant—$33.2 billion. These investments originated from 36 countries and cover 63 industries across 11 broad sectors.

This document can be viewed here: Houston Economy at a Glance – July 2019

Please contact us if you have any questions about the information provided.

Houston Economy at a Glance – May 2019

The May 2019 issue of the Houston Economy at a Glance courtesy of the Greater Houston Partnership has been released. Highlights of this month’s update include:

  • The metro Houston population grew by almost 92,000 residents in 2018, bringing the region’s population to nearly 7 million.
  • International migration to metro Houston reached a record high of 44,535 people in 2018, topping the previous record of 43,094 set in 2017.
  • Metro Houston ranked third in overall population growth, third in net natural increase (births vs. deaths), and fourth in international migration in 2018.
  • Almost 68,000 jobs were created in metro Houston in the twelve months ending March 2019, a 2.2% increase.
  • The Purchasing Managers Index (PMI) was 64.0 in March 2019, the highest reading in six years. Readings above 45.0 signal overall economic expansion in Houston over the next three to four months.

This document can be viewed here: Houston Economy at a Glance – May 2019

Please contact us if you have any questions about the information provided.

Houston Economy at a Glance – April 2019

The April 2019 issue of the Houston Economy at a Glance courtesy of the Greater Houston Partnership has been released. Highlights of this month’s update include:

  • The Texas Workforce Commission reported that 72,600 jobs were created in metro Houston in the 12 months ending February 2019, a 2.4% increase.
  • Domestic oil production reached 12 million barrels per day (mb/d) in March 2019 (an increase of 1.6 mb/d over March 2018) according to the U.S. Energy Information Administration (EIA). The U.S. now leads Russia (11.6 mb/d) and Saudi Arabia (10.1 mb/d) as the world’s top oil producer.
  • The latest forecast from The Perryman Group states that growth in metro Houston will outpace Texas and the U.S. through 2023. The projected growth will add 600,000 residents, 340,000 jobs, and $100 billion to real gross product.
  • Building permits for the City of Houston were up 32.1% in February 2019 ($535.2 million) as compared to February 2018 ($405.1 million). Commercial permits increased 66.1% to $361.8 million.

This document can be viewed here: Houston Economy at a Glance – April 2019

Please contact us if you have any questions about the information provided.

YE 2018 Texas Market Update

Our YE 2018 Texas Market Update has been released. Inside, you will find an overall market outlook, a breakdown of market highlights for Houston, Dallas-Fort Worth, San Antonio, and Austin, as well as graph data.

Feel free to contact us if you have any questions about the information provided.

Houston Economy at a Glance – January 2019

The January 2019 issue of the Houston Economy at a Glance courtesy of the Greater Houston Partnership has been released. Highlights of this month’s update include:

  • The length of the current U.S. expansion (114 months) has led some economists to question if the U.S. is overdue for a recession. Following comments from Federal Reserve Chairman Jerome Powell and forecasters at the National Association for Business Economics (NABE) in December, this has shifted to an outlook for slower growth instead of “no” growth.
  • Houston leads the country in tech hiring plans for 2019, according to a Robert Half Technology survey of 2,800 tech decision-makers across 28 U.S. cities. Eighty percent of the Houston respondents said that they plan to expand their teams this year.
  • Harris County has the nation’s third-largest economy, according to data from the U.S. Bureau of Economic Analysis. Adjusting for inflation, the county economy grew 10.9% ($41.3B) from 2012 to 2015.
  • Growth in the Houston Business-Cycle Index was 6.8% during the three months ending in September 2018, continuing its healthy expansion from the first half of the year.
  • The spot closing price of West Texas Intermediate (WTI), the U.S. benchmark for light, sweet crude, averaged $66.34 per barrel through the first 11 months of 2018, a 32% increase from the $50.25 average price for the same period in 2017.
  • The drilling rig count held steady at 1,075 drilling rigs working in the U.S. during the first week of January (up 151 rigs, or 16.3%, from the same week in 2018), according to Baker Hughes.

This document can be viewed here: Houston Economy at a Glance – January 19

Please contact us if you have any questions about the information provided.