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 January 2023 | |||
|---|---|---|---|
| Industry | December 2023 | January 2024 | % Change |
| Energy | 93.2 | 93.4 | +0.2 |
| Construction | 151.4 | 134.8 | -16.6 |
| Manufacturing | 95.5 | 94.5 | -1.0 |
| Retail | 127.3 | 125.1 | -2.2 |
| Financial Services | 133.4 | 134.9 | +1.5 |
| Real Estate | 122.4 | 118.0 | -4.4 |
| Professional & Business Services | 121.3 | 121.0 | -0.3 |
| Health Care | 111.2 | 111.2 | +0.0 |
| Hospitality & Tourism | 146.9 | 146.7 | -0.2 |
| Other Activity | 126.6 | 126.5 | -0.1 |
| Permian Basin Composite | 101.2 | 1--.7 | -0.5 |
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