Houston Economic Outlook -- 2010
Author: Patrick Jankowski, Vice President of Research for the Greater Houston Partnership (www.Houston.org)
Format: pdf slide show -- 70 slides
Date: 24 March, 2010
Summary
Houston was one of the last major metro areas to slip into the recession, and was one of the first to move out of the recession in January, 2010. Metro area employment peaked in August, 2008. During the recession employment declined 4.2% from that peak, and January showed the first job growth, only 17 months since the peak. Houston had the shortest and mildest recession of any major metro area in the country. Only Washington DC lost fewer jobs percentwise.
The gross metro product of Houston grew 1.8% in Q3, 2009 (Brookings Institute), and promise to grow throughout 2010. Global trade will probably lead the recovery in Houston, which is the second largest exporting metro area, behind New York only. 58 of the world's largest corporations have operations in Houston. In addition, over 3,000 US companies in Houston participate in global trade. Eenrgy (27% of the gross metro product) will contribute strongly to the recovery in Houston.
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2010-03-31 
English 
1.53 MB 95