Comerica Bank’s Texas Economic Activity Index increased 2.4 percentage points in November to a level of 109.9. The November reading is 38 points, or 53 percent, above the index cyclical low of 71.6. The index averaged 102 points for all of 2012, 10 points above the average for full-year 2011. October’s index reading was 107.5.
“Our Texas Index increased in October and November reflecting the solid economic conditions seen across most regions and most sectors of the state’s economy. Payroll job growth continues to outpace the national average, up 2.5 percent in November over the previous 12 months,” said Robert Dye, Chief Economist at Comerica Bank. “We are starting to see the large performance gap between Texas and the national average data converge slightly. This is to be expected as the push from the energy sector normalizes and the rest of the U.S. economy shows stronger and consistent growth. We expect Texas to continue to be an economic leader for the U.S in 2014.”
For a PDF version of the Texas Economic Activity Index, click here: TexasIndex_0114.