Skip to main content

Data, Insight & Analysis

0
Recent Downloads

Monthly Update: Purchasing Managers Index

November '24, Latest Data
Published on 12/19/24

The Partnership sends updates for the most important economic indicators each month. If you would like to opt-in to receive these updates, please click here.

Estimated Read Time: 1 minute

Economic growth in Houston improved in November, according to the most recent Houston Purchasing Managers Index (PMI) prepared by the Institute for Supply Management-Houston. Overall and non-manufacturing activity expanded after two months of contraction while manufacturing activity improved but remains weak.

The overall PMI rose from 49.2 in October to 53.2 in November. The non-manufacturing PMI improved from 49.5 to 54.0. Manufacturing, at 49.1 was just below the neutral point of 50 but has been improving since September.

Sales/new orders, employment, and lead times are the top three indicators with a strong positive correlation with the Houston economy. 
•    Sales/new orders rose for a fourth consecutive month and at 59.8 suggest robust growth.
•    Employment expanded to 50.7 after three consecutive months of contraction.
•    Lead times at 49.6 remain slightly below the neutral value of 50.  

The finished goods inventory index, the underlying indicator with the strongest inverse correlation with economic activity, decreased by 0.2 to 49.1.

On an industry-specific basis:
•    Construction, retail trade, and professional/business services reported strong expansion. 
•    Trade, transportation, and warehousing reported moderate expansion.
•    Non-durable goods manufacturing reported moderate contraction.
•    Oil and gas extraction and durable goods manufacturing reported significant contraction.

The PMI is published monthly by the Institute for Supply Management – Houston and is based on a survey of supply chain executives in the region. For additional information, click here.

Prepared by Greater Houston Partnership Research

Patrick Jankowski
Chief Economist and Senior Vice President, Research
Greater Houston Partnership

[email protected]

Colin Baker
Manager of Economic Research
Greater Houston Partnership
[email protected]

 

Economy Key Economic Indicators
53.2

Houston's PMI registered 53.2 in November '24

More Insight & Analysis

Monthly Update: Employment

Review the latest data on jobs in the Houston region. 

Monthly Update: Inflation

Review the latest data on inflation in the Houston area. 

Monthly Update: Home Sales

Review the latest information on home sales in the Houston region. 

Get more in-depth analysis from the Partnership team with a Membership.

Share Data

Executive Partners