Comerica Bank’s Texas Economic Activity Index advanced 1.4 percentage points in April to a level of 109.2. April’s reading is 38 points, or 52 percent, above the index cyclical low of 71.7. The index averaged 105 points for all of 2013, three points above the average for full-year 2012. March’s index reading was revised up to 107.8.
“Our Texas Index increased in April, supported by a broad range of positive indicators for the state. Payroll employment growth continues to be strong in most major metropolitan areas, including Dallas/Fort Worth, Houston, Austin and San Antonio. Residential construction activity is picking up to meet the strong demographic demand and drilling activity continues at a robust rate,” said Robert Dye, Chief Economist at Comerica Bank. “We expect to see the strong growth in the Texas economy to continue through the second half of this year and beyond.”
For a PDF version of the Texas Economic Activity Index, click here: TexasIndex_0614.