Houston Economic Update
According to the business-cycle index produced by the Federal Reserve Bank of Dallas, economic activity In the Houston metropolitan area grew at an annualized rate of 5.4 percent in September. International headwinds continue to be of grave concern, and uncertainty surrounding fiscal and regulatory policies persists. However, positive third-quarter gross domestic product (GDP) growth, revisions to second-quarter GDP growth and the resolution of transitory shocks to the economy have provided some relief. The outlook for Houston remains positive.
Houston Continues to Lead the Nation’s Recovery
Among the nation’s 20 most populous metropolitan areas, Houston has recovered the highest percentage of jobs lost in the recession than any other major U.S. metro. At the current rate of growth, Houston may return to its previous employment peak by the end of this year. Two of the three metros leading the recovery are in Texas.