Nonresidential electricity sales up in July

Rough indicator of production

Wendy Natt, Aug 28, 09.

The year-to-year margin of difference between nonresidential electricity sales in Houston for July 2009 and July 2008 was much smaller than that seen during the first seven months of the year, according to an Economic Indicators email update from the Greater Houston Partnership (GHP):

Nonresidential electricity sales are a rough proxy for industrial production. Unit nonresidential sales of electricity in the CenterPoint service area were 1.1 percent lower this July than last, the firm reports. That’s notably better than the 6.1 percent decline for the first seven months of the year - another indication that Houston is nearing a bottom in this recession.

See the full list of GHP’s Houston Economic Indicators for August 28,2009.