Looking back at 2011 it’s becoming very clear that Houston is leading the country out of the great recession! And it’s not only job creation where the region is showing signs of strength. Increases in foreign trade, industrial production, home sales and airport traffic all point to the fact that the Houston region’s economy is on its way back to its pre-recession numbers.

• October saw our region reach the point where it had recouped more than 101 percent of the jobs it lost in the recent recession, which hit the region beginning September 2008. Since January 2010, when we began the road to recover, the Houston region has gained 153,000 jobs.
• Perhaps just as significant, the Greater Houston Partnership is forecasting an approximate net gain of 84,600 jobs for the region in 2012 – with factors that drove job growth in ’11—high energy prices, advances in exploration technology, strong demand for Houston’s exports, a weak U.S. dollar, and in-migration of residents from other places, both domestically and abroad – driving the economy again next year!
• This year has seen a whopping 28.5 percent increase in the combined value of imports and exports through the Houston-Galveston Customs district, going from $154.4 billion during the first nine months of last year, to $198 billion through the first nine months of this year. The Houston district should set a record this year.
• Industrial production also appears to be healthy. The Houston Purchasing Managers Index (PMI) rose to 61.3 in October, up from 60.8 in September and 54.7 a year ago, according to the Institute for Supply Management-Houston. Readings above 50 indicate growth in production over the next three to four months; readings below 50 suggest contraction. The Houston PMI has remained above 50 for 26 consecutive months.
• The Houston Association of Realtors® Multiple Listing Service reported that the area had a 6.6 month inventory of single-family homes in November, an improvement from 7.7 month inventory it reported November 2010.
• The Houston Airport System handled 50.0 million passengers in the 12 months ending October 2011. Annualized passenger traffic has trended upward from the recession low of 47.7 million in August 2009.

The Greater Houston Partnership, along with its Members, will continue to work to take this momentum we’ve built in 2011 into 2012 – guaranteeing another record-breaking year for the Houston region!