September 2013 ©2013, Greater Houston Partnership Page 1
A publication of the Greater Houston Partnership Volume 22, Numbe...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 2
these are dockworkers, steamship ...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 3
port journey. Further-
more, ITA ...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 4
 Exports supported 307,020 Houst...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 5
Employment Update — The Houston-S...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 6
Airport Update — For the first se...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 7
nomic outlook. Tickets go on sale...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 8
STAY UP TO DATE!
Are you a GHP Me...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 9
Houston Economic Indicators
A Ser...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 10
Sources
Rig Count Baker Hughes I...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 11
HOUSTON MSA NONFARM PAYROLL EMPL...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 12
Source: National Association for...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 13
Source: Texas Workforce Commissi...
HOUSTON—THE ECONOMY AT A GLANCE
September 2013 ©2013, Greater Houston Partnership Page 14
Source: U.S. Energy Information ...
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Houston Economy At a Glance - September 2013

  1. 1. September 2013 ©2013, Greater Houston Partnership Page 1 A publication of the Greater Houston Partnership Volume 22, Number 9  September 2013 Exports and Jobs — The U.S. International Trade Administration (ITA) offers a rule of thumb for exports and job creation. Every billion dollars in U.S. exports supports approx- imately 4,900 jobs. ITA breaks down the rule a bit—exporting one billion dollars in goods and commodities supports 5,300 jobs, one billion in service exports sustains 4,000 jobs. The rule suggests a simple prescription for the nation’s unemployment woes. Foster an environment where trade flourishes, grow exports by $760 billion, create 3.7 million jobs, and the nation’s unemployment rate will drop to 5.0 percent, the level of December ’07, the month prior to the Great Recession. Admittedly, that’s a simplistic approach, but it illustrates the importance of exports to the nation’s economic health. It also reaffirms what Houstonians have known for some time: global connections support a healthy economy. This issue of Glance analyzes three sets of trade data for Houston—the Census Bureau’s Customs District report, the ITA’s Origin of Movement series, and the Brookings Institute’s Export Nation report—and of- fers insights as to what the data say about Houston. Big Open Door — The Houston-Galveston Customs Dis- trict1 handled $274.3 billion in foreign trade in ’12, ac- cording to the U.S. Census Bureau. That equates to $521,000 in foreign trade passing through the region eve- ry minute. Houston was the nation’s third busiest international gate- way last year, behind Los Angeles ($403.9 billion) and New York ($381.8 billion). Houston exports totaled $127.1 billion. Imports totaled $147.2 billion. Houston produces a large volume of goods and commodi- ties for export (more on that later), but the bulk of cus- toms district traffic originates elsewhere. Houston is the doorway through which U.S. goods and commodities pass on their way to global markets. It’s also the doorway by which foreign goods enter the United States. Houstonians may take for granted the jobs and investment that customs district traffic supports. Among 1 The Houston-Galveston Customs District includes six ports (Houston, Galveston, Texas City, Freeport, Corpus Christi and Port Lavaca) and two airports (Bush Intercontinental and Sugar Land Regional). Admittedly, two of the ports are outside the Houston metro area. Corpus Christi and Port Lavaca account for less than 11 percent of district traffic, which are almost entirely crude and refined products to and from Corpus Christi’s refineries. Houston-Galveston Customs District Traffic – ’12 Top Exports: refined products, oilfield equipment, organic chemicals, plastics, electrical machinery Top Export Destinations: Mexico, Bra- zil, Colombia, Netherlands, Venezuela Top Imports: crude oil, industrial ma- chinery, iron and steel, organic chemi- cals, electrical machinery Top Import Sources: Mexico, Saudi Arabia, Venezuela, China, Germany Source: Provided by WISERTrade from US Census Bureau data
  2. 2. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 2 these are dockworkers, steamship agents, ship chandlers, stevedores, customs brokers, truck drivers, terminal operators, legal and financial professionals, foreign banks, termi- nals, warehouses, railroad tracks, wharves, docks and container yards. Martin & Associates, a maritime consulting firm, has studied the benefits that the Ports of Houston, Galveston and Freeport bring to the region. The Center for Transportation Re- search at the University of Texas has reviewed Texas City as well. The studies found that port activity supports nearly 250,000 local jobs—75,000 direct, 89,000 indirect, and 85,000 induced.2 Even allowing for the possi- bility of double counting, the employment impact is significant for a region with 2.8 mil- lion jobs. Then there are the ancillary benefits. People take notice any time a quarter trillion dollars in trade passes through a region. Over the years, the Houston region has garnered the at- tention of the global community. The region now has 92 consulates, 20 foreign-owned banks, 745 foreign-owned firms, 2,500 U.S. firms engaged in global trade, and air service to 68 foreign markets. A feedback loop has emerged. Companies expand here because of Houston’s global connections, Houston’s connections facilitate trade, and that trade at- tracts more companies and investment. Houston’s global reach continues to grow. Export Orchestration — While the Census Bureau compiles customs district data, the International Trade Administration (ITA) compiles data for metro areas. ITA recently an- nounced that the Houston metro led the nation in exports in ’12, overtaking New York and ranking well ahead of Los Angeles, Detroit and Seattle. Houston’s exports have grown from $41.7 billion in ’05 to $110.3 billion in ’12, an increase of more than 164 percent. Exports are at an all-time high. But ITA’s data are confusing and even a bit misleading. The data are based on an export’s “origin of move- ment,” or “OM.” ITA identifies the OM as the address from where the good began its ex- 2 Direct jobs are with local firms that provide support services to the port. Those jobs would disappear if seaport activity ceased. Indirect jobs result from purchases made by firms that serve the port. Induced jobs result from purchases of goods and services by those employed at the port. The impact does not include jobs associated with handling international cargo at Bush Intercontinental Airport. REGIONAL JOB IMPACT OF HOUSTON AREA PORTS Jobs Houston Galveston Freeport Texas City Total Direct 53,952 3,074 13,362 4,452 74,840  Indirect 71,065 2,257 9,432 6,305 89,059  Induced 49,835 3,533 27,656 4,293 85,317  Total 174,852  8,864  50,450  15,050  249,216  Sources: Local and Regional Impacts of the Port of Houston, May 2012; The Potential Impact of the Port of Galveston Concession Agreement, February 2011;The Local and Regional Economic Impacts of Port Freeport, October 2012; Guide to the Economic Value of Texas Ports, December 2008. Note: The Houston, Galveston and Freeport impacts were produced by Martin & Associates, the Texas City impact by the Center for Transportation Research at the University of Texas. Metro Houston Exports – ’12 Origin of Movement Series Top Exports: petroleum products, chemicals, industrial machinery, oil and gas extraction Top Export Destinations: Mexico, Canada, Brazil, China, Netherlands Source: U.S. International Trade Admin- istration
  3. 3. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 3 port journey. Further- more, ITA logs the ad- dress of the primary ben- eficiary of the export transaction as the point of origin. This could be a person, wholesaler, or broker, not necessarily the enterprise that pro- duced the good. In a hy- pothetical example, a broker in Houston could purchase widgets from a Midwest factory, repackage them in a Houston warehouse, ship them via truck to the West Coast, and export the widgets to Asia via the Port of Los Angeles. Based on ITA’s methodology, the beneficiary resides here so the widget would be considered a Houston export. The Census Bureau would pick up the widget as a Los Angeles export because it was shipped through the Los Angeles Customs District. Though ITA data may be confus- ing, they convey two facts about Houston—the region coordinated more exports than any other metro, and placing a twist on ITA’s methodology, no other metro area benefited from exports more than Houston. Made in Houston — Brookings Institute’s Export Nation 2012: How U.S. Metropolitan Areas Are Driving National Growth analyzes exports at the metro level. Brookings allo- cates the value of a region’s exports based on its share of industry output. For instance, if a metro area produces 5 percent of the nation’s widgets, and the U.S. exports $100 billion in widgets each year, Brookings assumes the metro area exported $5 billion in widgets. Brookings acknowledges the potential for over counting in regions that are domestically- focused and undercounting in regions that are export-oriented, which may be the case for Houston. Brookings findings:  Exports from the Houston-Sugar Land-Baytown metro area totaled $47.9 billion in ’10. This figure included $34.4 billion in goods and $13.5 billion in services.  Houston ranked fourth, behind Los Angeles ($79.8 billion), New York ($78.0 billion) and Chicago ($53.9 billion). Dallas-Fort Worth ($41.1 billion) ranked fifth.  In constant dollars, Houston’s exports have grown from $23.7 billion in ’03 to $47.9 billion in ’10, an increase of 101.8 percent.  Exports accounted for 14.0 percent of Houston GDP in ’10, up from 7.9 percent in ’03. TOP METRO EXPORTERS BY VALUE Origin of Movement Series - $ Billions Rank Metro Area ’11 ’12 Change ’11–’12 1 Houston $104.5 $110.3 $5.8 5.6% 2 New York $105.1 $102.3 -$2.8 -2.7% 3 Los Angeles $72.7 $75.0 $2.3 3.2% 4 Detroit $49.4 $55.4 $6.0 12.1% 5 Seattle $41.1 $50.3 $9.2 22.3% 6 Miami $43.1 $47.9 $4.7 11.0% 7 Chicago $39.5 $40.6 $1.0 2.6% 8 Dallas-Ft Worth $26.6 $27.8 $1.2 4.4% 9 San Jose $26.7 $26.7 $0.0 -0.1% 10 Minneapolis $26.2 $25.2 -$1.0 -3.9% Note: The ratio of jobs to exports and the export data in this table are derived from two different methodologies so in this instance the two cannot be used together. Source: U.S. Department of Commerce, International Trade Administration
  4. 4. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 4  Exports supported 307,020 Houston-area jobs (141,285 direct, 165,735 indirect), or one in every eight in the region, in ’10.  Houston’s leading exports in ’10 were chemicals, industrial machinery, petroleum and coal products, travel and tourism, business services, computers and electronics, oil and gas extraction services, freight and port services, fabricated metal products and trans- portation equipment.  Houston exported goods and services worth $20 million or more to 72 countries. The NAFTA countries, Canada and Mexico, accounted for more than a fourth of the re- gion’s exports. HOUSTON’S TOP 50 EXPORT MARKETS - GOODS AND SERVICES, $MILLIONS, 2010 Country Exports Country Exports Country Exports Country Exports Canada 7,491.5 Belgium 870.8 Saudi Arabia 350.2 Russia 190.4 Mexico 5,157.8 Switzerland 805.2 Malaysia 343.4 Honduras 186.2 Japan 2,631.4 Ireland 800.1 Thailand 277.4 Guatemala 165.6 China 2,358.2 India 775.9 Peru 275.4 Indonesia 164.3 U.K 2,289.5 Italy 614.3 Israel 268.7 Turkey 161.7 Germany 1,853.3 Chile 572.8 Sweden 263.2 Gibraltar 160.3 Netherlands 1,724.3 Colombia 558.2 Dominican Rep. 234.5 Egypt 157.6 Brazil 1,678.4 Hong Kong 524.0 South Africa 231.1 Nigeria 140.9 Korea 1,467.8 Spain 515.7 Bahamas 230.1 Norway 139.9 Singapore 1,323.4 Venezuela 500.0 U.A.E. 221.8 New Zealand 106.3 France 1,100.7 Argentina 408.7 Netherlands Ant. 193.0 Lebanon 77.7 Taiwan 984.7 Ecuador 372.8 Costa Rica 192.8 All Others 2,308.9 Australia 922.5 Panama 358.0 Philippines 190.5 Total 47,901.6 Source: Export Nation 2012 (Brookings Institution, 2012). Based on data from BEA, BLS, IRS, Moody’s Analytics, NAFSA, and USITC. Brookings analysis was based on data from ’10, the year Houston began to emerge from the recession. Much has happened since then. Exports through the customs district have grown by $32.4 billion. Undoubtedly some portion of that was produced locally. Twelve foreign-flag carriers now fly from Bush Intercontinental with Air China, Turkish Airlines and VivaAerobus adding service since ’10. International air service will be available from Houston Hobby Airport starting in ’15. More than 125 foreign-owned companies have established a presence in Houston or expanded existing operations in the past two and a half years. Approximately 30 new chemical plants have been announced for the re- gion. These plants will tap the nation’s cheap, abundant natural gas to make chemicals and plastics for the export market. And the Census Bureau estimates that approximately 49,000 people have moved here from overseas in the past two years. Clearly, global trade, already a keystone of Houston’s economy, will grow in importance in the coming years.
  5. 5. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 5 Employment Update — The Houston-Sugar Land-Baytown Metro Area posted a net gain of 97,700 jobs, a 3.6 percent increase, in the 12 months ending July ’13, according to the Texas Workforce Commission (TWC). By comparison, employment in Dallas-Fort Worth-Arlington grew by 3.7 percent, Austin-Round Rock-San Marcos by 3.5 percent, San Antonio-New Braunfels by 1.4 percent, and El Paso by 0.9 percent. Midland led the state with 6.2 percent annual growth, followed closely by Odessa with 5.2 percent. The state as a whole grew 2.8 percent. Since the bottom of the recession, the Houston metro area has grown by 309,100 jobs, or 201.9 percent of the 153,100 jobs lost during the recession. No other major U.S. metro has exceeded its previous employment peak by a larger proportion. Only the New York metro area, with three times Houston’s population, has added a greater number of jobs since the recession’s end.   With the release of the July employment numbers, the Texas Workforce Commission significantly revised down- ward Houston’s employ- ment for June. In the origi- nal release, TWC estimat- ed Houston’s June employ- ment stood at 2,800,600. TWC now estimates June ’13 payroll jobs at 2,792,700, a difference of 7,900 jobs. Local educa- tion, accommodation and food services, financial ac- tivities, and construction were all revised signifi- cantly downward. Employment growth in Houston’s economic base—primarily oil and gas and manufactur- ing—appears to be slowing. In July ’12, employment in the base was growing at a 9.0 percent annual rate. This July, the growth rate dropped to 4.1 percent. A slowing in these primary sectors suggests a potential slowdown to come in secondary sectors as well. Unemployment in Houston remains below the state and national levels. Houston’s July unemployment rate was 6.5 percent, down from 6.7 percent in June and 7.3 percent in Ju- ly ’12. Texas’ unemployment rate was 6.7 percent in July, down from 6.9 percent in June and 7.4 percent in July ’12. The U.S. rate was 7.7 percent in July, down from 7.8 percent in June and 8.6 percent in July ’12. The rates are not seasonally adjusted. 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 Jobs (Millions) Source: Texas Workforce Commission Total Nonfarm Payroll Employment Houston Metro Area
  6. 6. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 6 Airport Update — For the first seven months of ’13, the Houston Airport System (HAS) handled 29.77 million passengers, a 0.1 percent decrease from 29.79 million during the same period in ’12. The decline reflects a 0.3 percent decrease in domestic traffic, from 24.46 million through July ’12 to 24.39 million through July ’13. During this period, domestic traffic decreased 1.9 percent at George Bush Intercontinen- tal Airport (IAH), but increased 4.4 percent at William P. Hobby Airport (HOU). The growth at HOU was insufficient to offset the losses from IAH since IAH handles three out of four domestic passengers travel- ling through Hou- ston. International traffic increased 1.1 per- cent, from 5.33 mil- lion through July ’12 to 5.38 million through July ’13. The fastest passen- ger growth occurred in travel from Hou- ston to Canada (9.6 percent), followed by travel to Europe (8.3 percent), Cen- tral/South America (4.5 percent), and Asia/Africa/Australia (2.0 percent). Air China’s nonstop flight from Houston to Beijing, which began in July, recorded a strong passenger load factor of 88.6 percent in its first weeks of operation. A standard load factor for the startup of long haul flights ranges from 60 to 70 percent. Partnership to Host Economic Outlook Event — Plan to attend GHP’s annual 2014 Economic Outlook, scheduled for Tuesday, December 3, at the Hilton Americas, 1600 Lamar. The event features a panel of local business leaders discussing Hous- ton economic trends, the Partnership’s employment forecast for 2014, and a luncheon keynote presentation by John Silvia, Chief Economist for Wells Far- go. Silvia will provide the U.S. eco- 18.39 6.07 5.33 18.05 6.34 5.38 IAH‐ Domestic Hobby‐ Domestic IAH‐ International HAS PASSENGER TRAFFIC ‐ MILLIONS July '12 YTD vs July '13 YTD July '12 YTD July '13 YTD Source: Houston Airport System
  7. 7. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 7 nomic outlook. Tickets go on sale October 15. Additional details about the event and how to purchase tickets will be posted at the Partnership’s website, www.houston.org, starting October 15. Summary of Key Economic Indicators PMI — The Houston Purchasing Managers Index, a short-term indicator for regional production, registered 57.1 in July ’13, unchanged from May and June, according to the Institute for Supply Management-Houston. For the first seven months of ’13, the PMI has averaged 58.7, slightly below the 59.4 registered in the same period last year. A reading of 50 is neutral, so the PMI continues to foreshadow production gains in the region. Inflation — The cost of consumer goods and services as measured by the Consumer Price Index for All Urban Consumers grew 2.0 percent nationwide from July ’12 to July ’13 and remained unchanged over the month, according to the U.S. Bureau of Labor Sta- tistics. Home Sales — Houston-area realtors sold 9,186 homes in July ’13, a 26.3 percent in- crease over the 7,276 homes sold in July ’12, according to the Houston Association of REALTORS® . July marked the 26th consecutive month of sales gains over the same month of the previous year. The median price of a single-family home in Houston grew 10.5 percent, from $169,920 in July ’12 to $187,760 in July ’13. Local inventory in- creased to 3.4 months supply, up from 3.3 months in June. Building Permits— The City of Houston issued building permits totaling $715.2 million in July ’13, a 121.1 percent increase over the $323.5 million issued in July ’12. The large year-over-year growth was due to a 154.9 percent increase in nonresidential permit val- ues, from $190.8 million in July ’12 to $486.4 million in July ’13. Residential permits in- creased 72.4 percent from $132.6 million in July ’12 to $228.7 million in July ’13. Vehicle Sales— Houston-area auto dealers sold 35,133 vehicles in July ’13, a 23.2 per- cent increase from the 28,525 sold in July ’12, according to TexAuto Facts, published by InfoNation, Inc. of Sugar Land. The month’s auto sales were the highest July results since July ’01. For more information on these indicators, please visit “The Economy” at GHP’s website.
  8. 8. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 8 STAY UP TO DATE! Are you a GHP Member? If so, log in to your account here and access archived issues of Glance available only to Members. You can also sign-up RSS feeds to receive Houston’s latest economic data throughout the month. If you are a nonmember and would like to receive this electronic publication on the first working day of each month, please email your request for Economy at a Glance to dmorrow@houston.org. Include your name, title and phone number and your company’s name and address. For information about joining the Greater Houston Partnership and gaining access to this powerful resource, call Member Services at 713-844-3683. The Key Economic Indicators table is updated whenever any data change — typically, 11 or so times per month. If you would like to receive these updates by e-mail, usually accompanied by commentary, please email your request for Key Economic Indicators to dmorrow@houston.org with the same identifying information. You may request Glance and Indicators in the same email.
  9. 9. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 9 Houston Economic Indicators A Service of the Greater Houston Partnership Most Year % Most Year % Month Recent Earlier Change Recent Earlier Change ENERGY U.S. Active RotaryRigs Aug '13 1,781 1,913 -6.9 1,763 * 1,968 * -10.4 Spot Crude Oil Price ($/bbl, West Texas Intermediate) Aug '13 106.76 94.52 12.9 97.15 * 96.45 * 0.7 Spot Natural Gas ($/MMBtu, HenryHub) Aug '13 3.39 2.79 21.5 3.67 * 2.50 * 46.8 UTILITIES AND PRODUCTION Houston Purchasing Managers Index July'13 57.1 59.6 -4.2 58.7 * 59.4 * -1.2 Nonresidential Electric Current Sales (Mwh, CNP Service Area) July'13 4,660,411 4,652,127 0.2 29,221,239 29,075,273 0.5 CONSTRUCTION Total Building Contracts ($, Houston MSA) July '13 952,553,000 838,270,000 13.6 6,702,172,000 6,275,735,000 6.8 Nonresidential July'13 235,627,000 276,177,000 -14.7 1,827,376,000 2,269,973,000 -19.5 Residential July'13 716,926,000 562,093,000 27.5 4,874,796,000 4,005,762,000 21.7 Building Permits ($, City of Houston) July '13 715,175,322 323,463,765 121.1 3,510,743,282 2,559,954,571 37.1 Nonresidential July'13 486,441,733 190,821,728 154.9 2,276,769,851 1,680,930,986 35.4 New Nonresidential July '13 316,886,234 70,943,229 346.7 1,152,047,586 613,050,982 87.9 Nonresidential Additions/Alterations/Conversions July '13 169,555,499 119,878,499 41.4 1,124,722,265 1,067,880,004 5.3 Residential July'13 228,733,589 132,642,037 72.4 1,233,973,431 879,023,585 40.4 New Residential July '13 210,105,547 117,113,370 79.4 1,107,170,131 724,238,853 52.9 Residential Additions/Alterations/Conversions July '13 18,628,042 15,528,667 20.0 126,803,300 154,784,732 -18.1 Multiple Listing Service (MLS) Activity PropertySales July'13 9,186 7,276 26.3 51,704 42,170 22.6 Median Sales Price - SF Detached July'13 187,968 169,920 10.6 176,623 * 160,103 * 10.3 Active Listings July'13 32,966 41,860 -21.2 32,828 * 42,163 * -22.1 EMPLOYMENT (Houston-Sugar Land-Baytown MSA) Nonfarm Payroll Employment July '13 2,784,300 2,686,600 3.6 2,768,043 * 2,664,371 * 3.9 Goods Producing (Natural Resources/Mining/Const/Mfg) July'13 549,600 524,500 4.8 541,143 0 514,314 * 5.2 Service Providing July'13 2,234,700 2,162,100 3.4 2,226,900 0 2,150,057 * 3.6 Unemployment Rate (%) - Not Seasonally Adjusted Houston-Sugar Land-Baytown MSA July'13 6.5 7.3 6.4 * 7.1 * Texas July'13 6.7 7.4 6.6 * 7.2 * U.S. July'13 7.7 8.6 7.7 * 8.4 * FOREIGN TRADE (Houston-Galveston Customs District) Port of Houston Authority Shipments (Short Tons) July '13 3,962,804 3,892,945 1.8 26,058,126 25,511,003 2.1 Air Passengers (Houston Airport System) July '13 4,746,868 4,752,135 -0.1 29,836,222 29,789,062 0.2 Domestic Passengers July'13 3,807,525 3,838,975 -0.8 24,438,110 24,462,309 -0.1 International Passengers July'13 939,343 913,160 2.9 5,398,112 5,326,753 1.3 Landings and Takeoffs July '13 69,529 69,096 0.6 471,552 484,087 -2.6 Air Freight (metric tons) July '13 34,011 34,287 -0.8 239,956 239,688 0.1 Enplaned July'13 18,564 17,657 5.1 127,323 124,400 2.3 Deplaned July'13 15,447 16,630 -7.1 112,633 115,288 -2.3 CONSUMERS New Car and Truck Sales (Units, Houston MSA) July '13 35,133 28,525 23.2 202,144 196,585 2.8 Cars July'13 15,402 12,164 26.6 90,584 87,317 3.7 Trucks, SUVs and Commercials July'13 19,731 16,361 20.6 111,560 109,268 2.1 Total Retail Sales ($000,000, Houston MSA, NAICS Basis) 4Q12 30,682 30,792 -0.4 107,511 100,873 6.6 Consumer Price Index for All Urban Consumers ('82-'84=100) Houston-Galveston-Brazoria CMSA July'13 207.882 204.829 1.5 206.584 * 204.707 * 0.9 United States July'13 233.596 229.104 2.0 232.542 * 228.886 * 1.6 Hotel Performance (Houston MSA) Occupancy(%) 1Q13 70.4 66.4 70.4 * 66.4 * Average Room Rate ($) 1Q13 100.63 94.77 6.2 100.63 * 94.77 * 6.2 Revenue Per Available Room ($) 1Q13 70.88 62.97 12.6 70.88 * 62.97 * 12.6 POSTINGS AND FORECLOSURES Postings (Harris County) June '13 1,742 3,233 -46.1 10,361 18,747 -44.7 Foreclosures (Harris County) June '13 449 914 -50.9 2,685 5,199 -48.4 YEAR-TO-DATETOTAL or YTD AVERAGE*MONTHLYDATA
  10. 10. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 10 Sources Rig Count Baker Hughes Incorporated Spot WTI, Spot Natural Gas U.S. Energy Information Admin. Houston Purchasing Managers National Association of Index Purchasing Management – Houston, Inc. Electricity CenterPoint Energy Building Construction Contracts McGraw-Hill Construction City of Houston Building Permits Building Permit Department, City of Houston MLS Data Houston Association of Realtors Employment, Unemployment Texas Workforce Commission Port Shipments Port of Houston Authority Aviation Aviation Department, City of Houston Car and Truck Sales TexAuto Facts Report, InfoNation, Inc., Sugar Land TX Retail Sales Texas Comptroller’s Office Consumer Price Index U.S. Bureau of Labor Statistics Hotels PKF Consulting/Hospitality Asset Advisors International Postings, Foreclosures Foreclosure Information & Listing Service
  11. 11. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 11 HOUSTON MSA NONFARM PAYROLL EMPLOYMENT (000) Change from % Change from July '13 June '13 July '12 June '13 July '12 June '13 July '12 Total Nonfarm Payroll Jobs 2,784.3 2,792.7 2,686.6 -8.4 97.7 -0.3 3.6 Total Private 2,429.6 2,425.5 2,338.6 4.1 91.0 0.2 3.9 Goods Producing 549.6 545.9 524.5 3.7 25.1 0.7 4.8 Service Providing 2,234.7 2,246.8 2,162.1 -12.1 72.6 -0.5 3.4 Private Service Providing 1,880.0 1,879.6 1,814.1 0.4 65.9 0.0 3.6 Mining and Logging 108.5 106.3 102.8 2.2 5.7 2.1 5.5 Oil & Gas Extraction 58.0 57.3 54.5 0.7 3.5 1.2 6.4 Support Activities for Mining 49.0 47.7 47.2 1.3 1.8 2.7 3.8 Construction 189.3 187.8 176.3 1.5 13.0 0.8 7.4 Manufacturing 251.8 251.8 245.4 0.0 6.4 0.0 2.6 Durable Goods Manufacturing 171.8 171.6 165.7 0.2 6.1 0.1 3.7 Nondurable Goods Manufacturing 80.0 80.2 79.7 -0.2 0.3 -0.2 0.4 Wholesale Trade 151.8 150.8 145.0 1.0 6.8 0.7 4.7 Retail Trade 284.1 286.1 274.1 -2.0 10.0 -0.7 3.6 Transportation, Warehousing and Utilities 132.8 132.6 128.4 0.2 4.4 0.2 3.4 Utilities 16.1 16.1 16.4 0.0 -0.3 0.0 -1.8 Air Transportation 22.0 22.1 22.5 -0.1 -0.5 -0.5 -2.2 Truck Transportation 25.1 25.1 24.0 0.0 1.1 0.0 4.6 Pipeline Transportation 10.6 10.6 10.4 0.0 0.2 0.0 1.9 Information 32.8 32.1 31.7 0.7 1.1 2.2 3.5 Telecommunications 15.4 15.3 15.1 0.1 0.3 0.7 2.0 Finance & Insurance 92.6 90.8 89.9 1.8 2.7 2.0 3.0 Real Estate & Rental and Leasing 52.2 51.9 50.7 0.3 1.5 0.6 3.0 Professional & Business Services 422.8 422.3 411.6 0.5 11.2 0.1 2.7 Professional, Scientific & Technical Services 198.1 198.5 194.6 -0.4 3.5 -0.2 1.8 Legal Services 24.3 24.3 24.1 0.0 0.2 0.0 0.8 Accounting, Tax Preparation, Bookkeeping 18.9 19.4 19.2 -0.5 -0.3 -2.6 -1.6 Architectural, Engineering & Related Services 71.7 71.4 66.6 0.3 5.1 0.4 7.7 Computer Systems Design & Related Services 27.4 27.4 26.8 0.0 0.6 0.0 2.2 Admin & Support/Waste Mgt & Remediation 200.9 200.1 194.1 0.8 6.8 0.4 3.5 Administrative & Support Services 192.1 189.5 185.1 2.6 7.0 1.4 3.8 Employment Services 79.8 80.6 73.7 -0.8 6.1 -1.0 8.3 Educational Services 46.3 46.8 45.1 -0.5 1.2 -1.1 2.7 Health Care & Social Assistance 294.5 294.0 280.8 0.5 13.7 0.2 4.9 Arts, Entertainment & Recreation 31.2 31.7 30.2 -0.5 1.0 -1.6 3.3 Accommodation & Food Services 243.7 244.6 230.0 -0.9 13.7 -0.4 6.0 Other Services 95.2 95.9 96.6 -0.7 -1.4 -0.7 -1.4 Government 354.7 367.2 348.0 -12.5 6.7 -3.4 1.9 Federal Government 27.8 27.5 27.3 0.3 0.5 1.1 1.8 State Government 69.1 69.6 68.7 -0.5 0.4 -0.7 0.6 State Government Educational Services 36.5 37.0 36.6 -0.5 -0.1 -1.4 -0.3 Local Government 257.8 270.1 252.0 -12.3 5.8 -4.6 2.3 Local Government Educational Services 173.7 187.4 170.0 -13.7 3.7 -7.3 2.2 SOURCE: Texas Workforce Commission
  12. 12. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 12 Source: National Association for Purchasing Management - Houston, Inc. Source: Texas Workforce Commission 30 35 40 45 50 55 60 65 70 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 PURCHASING MANAGERS INDEX HOUSTON & U.S. 2004-2014 HOUSTON U.S. -120 -100 -80 -60 -40 -20 0 20 40 60 80 100 120 140 160 1,950 2,000 2,050 2,100 2,150 2,200 2,250 2,300 2,350 2,400 2,450 2,500 2,550 2,600 2,650 2,700 2,750 2,800 2,850 2,900 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 12-MONTHCHANGE(000) NONFARMPAYROLLEMPLOYMENT(000) HOUSTON MSA EMPLOYMENT 2004-2014 12-MONTH CHANGE JOBS
  13. 13. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 13 Source: Texas Workforce Commission Source: Texas Workforce Commission 1,600 1,650 1,700 1,750 1,800 1,850 1,900 1,950 2,000 2,050 2,100 2,150 2,200 2,250 2,300 430 440 450 460 470 480 490 500 510 520 530 540 550 560 570 580 590 600 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 SERVICE-PROVIDING(000) GOODS-PRODUCING(000) GOODS-PRODUCING AND SERVICE-PROVIDING EMPLOYMENT HOUSTON MSA 2004-2014 GOODS-PRODUCING JOBS SERVICE-PROVIDING JOBS 0 1 2 3 4 5 6 7 8 9 10 11 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 PERCENTOFLABORFORCE UNEMPLOYMENT RATE HOUSTON & U.S. 2004-2014 HOUSTON U.S.
  14. 14. HOUSTON—THE ECONOMY AT A GLANCE September 2013 ©2013, Greater Houston Partnership Page 14 Source: U.S. Energy Information Administration Source: U.S. Bureau of Labor Statistics 0 4 8 12 16 20 24 28 0 20 40 60 80 100 120 140 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 HENRYHUBNATURALGAS($/MMBTU) WESTTEXASINTERMEDIATE($/BBL) SPOT MARKET ENERGY PRICES 2004-2014 WTI Monthly WTI 12-MO AVG GAS MONTHLY GAS 12-MO AVG -3% -2% -1% 0% 1% 2% 3% 4% 5% 6% Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 INFLATION: 12-MONTH CHANGE 2004-2014 HOUSTON CPI-U U.S. CPI-U
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