Houston Economy Shows Broad-based Gains in September
by: Andrew Schneider, October 10, 2013 11:10:00 am
The Houston Purchasing Managers Index registered 60.8 in September, up nearly three points from August. It was the sharpest increase in the index since February.
The PMI tracks eight measures of economic activity across the city. Mike Valant is business survey chair with the Institute of Supply Management — Houston.
“We’re buying more, we’re consuming even more than we’re buying, and we’re hiring people. I mean, you can’t ask for a whole lot more than that. Not to mention six of the indicators were up, and two of them were the same, so nothing went negative this month.”
The report singled out an increase in manufacturing orders since August, following a slowdown between May and July. It also noted expansion in health care sector.
The PMI has a range of 0 to 100, with readings over 50 pointing to near-term production gains