Lubbock’s Strong Economy Keeps Building

Chip Gilmour

Blazing construction numbers continue to push Lubbock Economic Index into record numbers

The construction and real estate sector of the Lubbock economy is still blazing hot, leading the Lubbock Economic Index to another record after June, 151.1 – up from 150.3 in May and a healthy bump up from 146.3 in June of last year.

The Index also expanded at a strong 7 percent annualized rate over the second quarter of 2017 and has been growing for 70 months (that’s almost six years).

“It’s good news,” said Chip Gilmour, Lubbock National Bank senior vice president.

There were a few areas of concern to monitor over the next few months – job growth has slowed, the Consumer Price Index has jumped a tad and oil continues to drop.

Here are Chip’s takeaways from the June report:

Lubbock National Bank Senior Vice President Chip Gilmour briefs local media each month on the report.

To see the full report, click here

To see the Lubbock Avalanche-Journal story, click here

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