Midland Economic Indicators

 


Midland MSA Economic Index March 2023
Industry February 2023 March 2023

% Change
 

Energy

105.8

104.7 -1.1
Construction 163.5 208.3 +44.8
Manufacturing 144.9 147.9 +3.0
Retail 128.3 125.8 -2.5
Financial Services 206.6 207.4 +0.8
Real Estate 113.1 115.6 +2.5
Professional & Business Services 124.7 122.3 -2.4
Health Care 107.9 108.4 +0.5
Hospitality & Tourism 154.8 156.1 +1.3
Other Activity 130.6 131.4 +0.2
Midland Composite 114.0 114.2 +0.2

Note: Industries are not weighted equally in calculating the Industry Composite; see the Appendix for further explanation. The Midland Metropolitan Statistical Area (MSA) includes Midland and Martin counties.  Source: The Perryman Group 


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Selected Midland Economic Indicators  
Indicator (March 2023) 2021 2022 2023 2022-2023 % Change
Permian Basin Rig Count 215 315 349 +10.85%
WTI Oil Price $62.33 $108.50 $73.28 -32.46%
Henry Hub Natural Gas $2.62 $4.90 $2.31 -52.86%
Housing Permits 79 38 - N/A
Average Housing Permit Value $208,600 $227,600 - N/A
Housing Listings 705 495 468 N/A
Median Housing Listing Price $295,000 $325,000 $345,00 +6.15%
Airline Boardings 22,899 39,540 47,357 +19.77%
Hotel Receipts $8,184,167 $9,869,396 $12,436,740 +26.01%
Employment (Seasonally Adjusted) 99,200 109,300 119,000 +8.87%
Unemployment Rate 6.70% 3.26% 2.69% N/A
Midland Index (2021=100) 92.7 112.6 114.2 N/A