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Houston Economic Indicators - February 2013

Houston Economic Indicators - February 2013

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Published by Coy Davidson
FRB Dallas - Houston Economic Update
FRB Dallas - Houston Economic Update

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Categories:Types, Business/Law
Published by: Coy Davidson on Feb 14, 2013
Copyright:Attribution Non-commercial

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02/14/2013

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Houston
 
Economic Indicators
X
Te Houston Business-Cycle index rose nearly 4 per-cent in December, implying aster economic growth inthe region. Energy-related activities, construction andinternational trade continue to propel growth. Regulatory uncertainty, the U.S. scal situation and stresses in theglobal economy cloud the horizon, but undamentals inmany area industries were rmer than in much o 2012.
X
Oil prices were up in January but remained volatile.Continued pipeline bottlenecks in Cushing, Okla., arekeeping the price o West exas Intermediate crude low compared with Brent and other oil prices, although theaverage dierence ell to $18.63 in January. Natural gasprices dropped slightly to $3.34 per Mc in January. Fuelprices rose, due in part to seasonal actors and higheroil prices. Natural gas inventories remained seasonally high but ell below year-ago levels or the rst time sinceNovember.
X
Houston payroll employment grew 1.5 percent inDecember and 3.6 percent through 2012. Only 1997,1998, 2005 and 2006 had greater annual growth rates thepast 20 years. Construction, manuacturing, and proes-sional and business services led employment growth inDecember.
X
Te Houston unemployment rate rose two-tenths o apercent to 6.2 percent in December as estimates showedthe local labor orce declined slightly. Te U.S. held at 7.8percent. Te Conerence Board’s Help Wanted OnLineindex or Houston indicated the number o job advertise-ments in the area jumped 11.2 percent in December, thesecond-largest monthly increase in a year in which theaverage change was 2.7 percent.
Economic ActivityEnergy PricesEmployment
FEDERAL RESERVE BANK OF DALLAS • FEBRUARY 2013
250260270280290300310Dec-2008 Dec-2009 Dec-2010 Dec-2011 Dec-2012
1.58.81.4-10.4-0.3-7.55.05.80.06.2-4.8TotalConstruction & miningEducational & health servicesFinancial activitiesGovernmentInformationLeisure & hospitalityManufacturingOther servicesProfessional & business svcTrade, transp & utilities
-6-4-20246810
DALLAS
FED
Index, October 1980 = 100Percent change
Houston Business-Cycle IndexChange in Energy Spot Prices, December to JanuaryDecember Employment Growth
NOTE: Figures are seasonally adjusted, annualized monthly growth rates.*Henry Hub natural gas spot price.NOTE: Prices listed are one-month averages.Gasoline$2.63/galDiesel$3.02/galJet fuel$3.06/galHHNG*$3.34/McfWTI$93.49/bblBrent$112.19/bbl

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