Houston

2016 | Houston Economic Outlook

Houston ranked among the top-performing U.S. metros last year and has historically been a top 10 metro leading the nation in population and job growth. In March, Site Selection magazine ranked Houston 2nd, as a top metro for new and expanded corporate facilities. This ranking is a testiment to Houston’s strong economic base and staying power even during an energy industry downturn.

Since the dramatic fall of oil prices that occurred in late 2014, Houston’s economy has slowed significantly and continues to grow at a lesser pace in 2016 than its’ 
average annual rate. Future growth forecasts have been revised downward, mostly due to the impact of low oil prices. Fortunately, only one of three sectors of the
energy industry has been affected, confined to the “upstream” energy companies who are focused on exploration and production. The “midstream” (transportation 
and storage) and “downstream” (refining and petro-chemical) sectors are not as negatively impacted by low oil and gas prices and are projected to remain strong 
in the near term.


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Executive Summary

Houston MSA Employment
   JOBS GAINED
2015
15,200
2014
104,700
2013
89,900

Houston Unemployment
  PERCENT (%) 
07/2016
5.8
07/2015
5.0
07/2014
5.4

Houston MSA Population
  IN MILLIONS GROWTH (%)
2015
6.66 2.5
2014 6.50 2.7
2013 6.33 2.4

Energy: Oil & Natural Gas
WTI CRUDE OIL: PER BARREL
09/2016

$46.97

09/2015 $49.20
09/2014 $92.92
09/2013 $108.67

NATURAL GAS: PER MMBtu
09/2016 $2.97
09/2015 $2.69
09/2014 $3.93
09/2013 $3.64

Import/Export Trade
HAS AIR FREIGHT: IN THOUSANDS TONS
2015 441.6
2014 474.2
2013 439.7
2012 450.4

PHA TOTAL TONNAGE (short tons): IN MILLIONS TONS
2015 30.8
2014 30.3
2013 28.5
2012 29.1

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