Each month the Greater Houston Partnership produces the Houston Economy at a Glance that analyzes various indicators tracking the current status of the city’s economic health. Below is a brief summary of some key findings from the March issue. Click the link below to download the full report.
Key Economic Indicators
Employment
Total nonfarm employment remains hearty as the city has added 214,100 jobs above the pre-pandemic level, with all but a few sectors having fully recovered all jobs lost.
Foreign Trade
The four seaports in the metro area combined handled 255.9 million metric tons of cargo in 2023, with Port Houston alone setting a record high last year with 207.1 million metric tons. Export tonnage rose by nearly 10%.
Purchasing Managers Index (PMI)
Economic activity continued to expand in Houston going into 2024. The PMI in January rose 1.2 points to 52.6. Readings above 50 represent overall economic expansion.
Energy
Despite a drop in domestic rig count to close out 2023, US output continues to climb with daily production averaging 12.9 million barrels per day.
Source: The Greater Houston Partnership
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