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 2023


February 2023 March 2023

% Change

Energy 98.1 96.6 -1.5
Construction 151.7 205.7 +54.0
Manufacturing 102.7 104.2 +1.5
Retail 126.7 125.2 -1.5
Financial Services 123.8 124.5 +0.7
Real Estate 123.2 124.9 +1.7
Professional & Business Services 117.2 115.7 -1.5
Health Care 104.8 105.4 +0.6
Hospitality & Tourism 144.1 145.7 +1.6
Other Activity 121.4 122.0 +0.6
Permian Basin Composite 104.5 104.7 +0.2

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