Houston Economic Activity Snaps Three-Month Decline
by: Andrew Schneider, July 11, 2013 11:07:00 am
The Houston Purchasing Managers Index registered 57.1 in June, the same as in May. The PMI has a range of 0 to 100, with readings over 50 pointing to near-term production gains.
The index tracks eight measures of economic activity. Employment was the only one that improved in June. Mike Valant is business survey chair with the Institute of Supply Management -- Houston.
"People are hiring because sales are still strong. Even though they’re level, they’re level at a high level. Prices are stable. Purchasing is stable. The inventories seem to be solid. So, I mean, overall for Houston, I think we’re fairly strong."
The survey found the region is running critically short of some skilled workers, due to high demand from new construction and other projects. Those in shortest supply include welders, pipe-fitters, and industrial carpenters.