September Economic Index

Chip Gilmour’s five takeaways from Lubbock National Bank’s September Lubbock Economic Index … and post-election thoughts.

Even though the results of the presidential election are not in the index, Chip was optimistic the economy will be stimulated because he thinks the “Trump Administration will do their best to reduce taxes on business and individuals and what that means for 401Ks and investment portfolios.”

“This is an exciting opportunity for many of us,” he said, mentioning the immediate and positive uptick in the stock markets. He cautioned, though, there are major challenges of unraveling Obamacare.

“That will be very tricky … to pull back spiraling costs of health care,” Chip said.

“It will be very interesting to see how his administration is accepted throughout the world,” he said.

“I can’t help but be optimistic. We have too many government regulations. Many are not necessary and restrictive to business growth and affect everyone’s personal pocketbook. It should stimulate hiring and make additional jobs available.

“All that said … we should have a lot better clue in six months than right now,” said Chip.

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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