Lubbock Economy Growth Hits Seven-Year Mark

Randy Laycock & Chip Gilmour

Lubbock economy growth hits seven-year mark, boosted by retail sales, home sales, job growth, low jobless level, more

The Lubbock economy has now been growing for 84 months – that’s seven years – and is expected to keep growing through the end of 2018 and into 2019, according the latest numbers from the Lubbock National Bank Economic Index.

In August, the Index grew to a record 152.5.

“The Index has grown by more than 29 percent,” over the seven years, “averaging a very impressive 4.2 percent a year,” said Randy Laycock, LNB senior vice president of marketing, when he briefed local media at a press conference.

Highlights from the August numbers include:

“The price of gasoline is going down finally … and that feeds into how people spend their money and that’s a good trend,” said Chip Gilmour, LNB vice president. “Also, unemployment nationally is down, the GDP is up. The economy is doing extremely well.”

So more details from August:

Click here to see the full July and August reports
Click here to see Avalanche-Journal story

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