Permian Basin Economic Indicators

The Permian Basin oil region is the 2nd largest oil and gas shale producer in the world. In fact, outside of Houston, no other area in the US plays a more important role in the nation’s energy industry than the Permian Basin. Midland’s economy is heavily influenced by the oil and gas industry, an industry that has continued to grow as technology has made it possible for U.S. companies to remain competitive at home and abroad. 


Permian Basin MSA Economic Index March 2022

Industry

February 2022 March 2022

% Change

Energy 90.4 97.7 +7.3
Construction 150.7 213.1 +62.5
Manufacturing 91.0 92.3 +1.3
Retail 129.0 129.7 +0.7
Financial Services 121.0 121.8 +0.7
Real Estate 134.5 130.3 -4.2
Professional & Business Services 104.2 104.3 +0.1
Health Care 96.8 96.4 -0.4
Hospitality & Tourism 146.0 146.7 +0.7
Other Activity 113.7 114.3 +0.6
Permian Basin Composite 98.1 104.9 +6.8

Note: Industries are not weighted equally in calculating the Industry Composite; see the Appendix for further explanation. The Permian Basin Region includes Andrews, Borden, Crane, Dawson, Ector, Gaines, Glasscock, Howard, Loving, Martin, Midland, Pecos, Reeves, Terrell, Upton, Ward, and Winkler counties.
Source: The Perryman Group

Read the full report here