The Houston Purchasing Managers Index (PMI), a short-term leading indicator for regional production, registered 61.2 in August, down slightly from 62.0 in July. Readings above 50 signal economic expansion in Houston over the next three to four months. Readings below 50 signal contraction. The region’s PMI slipped below 50 in the three months immediately following Hurricane Harvey but climbed above 50 in November and has signaled expansion for 10 consecutive months.
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