Comerica Bank’s Texas Economic Activity Index rose half of a percentage point in April, to a level of 97.5. The April index reading is 26 points, or 36 percent, above the index cyclical low. The index has averaged 96 points in 2012, six points above the index average for all of 2011.
“Texas continues to exhibit robust economic growth, as shown in the half point index increase in April,” said Robert Dye, Chief Economist at Comerica Bank. “Despite low natural gas prices, Texas drilling activity remains vigorous, with the state’s energy sector driving robust job gains. Strength in energy and manufacturing is boosting the service sector, providing a broad basis for ongoing economic growth.”