Business

Houston Hiring Remains Steady, But Prices Are Climbing

Houston economic activity has held steady for the third month in a row, according to the latest survey of local purchasing managers.

The Houston Purchasing Managers Index registered 57.1 in July, the same as in May and June. The plateau follows a three-month decline in regional economic activity.

Employment stood out as one of the strongest of the survey’s eight economic indicators. More than 80% of respondents said they either kept hiring at the same rate as in June or cranked up the pace. Purchased and finished goods inventories both dropped, indicating a rise in consumption.

On the down side, July saw a steep increase in the prices local businesses had to pay for major purchases. Mike Valant is business survey chair with the Institute of Supply Management — Houston. 

“Gasoline and fuel have gone up to the industries. And other expenses I know I’ve seen, some of my comments [from respondents] were steel were up, and by the way salaries are very up.”

The PMI has a range of 0 to 100, with readings over 50 pointing to near-term production gains.

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas delegations in the U.S. House and Senate, as well as the Texas governorship, the state legislature, and county and city governments. Before taking up his current post, Andrew...

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